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KLCI futures close mostly higher
by Cals Fri 18 Oct 2013, 05:45
| KLCI futures close mostly higher |
| Business & Markets 2013 |
| Written by Bernama |
| Thursday, 17 October 2013 19:06 |
Phillip Futures Sdn Bhd dealer Elky Liam Kian Yap said the spot month contract opened at an intra-day high on Thursday, but gains were subsequently trimmed to close at 1,800 points.
"Investors stay conservative, even as US lawmakers came out with a deal to avert a default, as the deal offers only a temporary fix and doesn’t resolve the fundamental issues of spending and deficits.
"However, a rally is expected to kick in, ahead of the UMNO elections this weekend," he told Bernama.
At the close, spot month October 2013 and November 2013 rose 1.5 points each to 1,800 and 1,798.5, respectively, December 2013 decreased half-a-point to 1,798.5, while March 2014 was flat at 1,793.5.
Turnover jumped to 5,256 lots from 5,018 lots on Wednesday, while open interest rose to 47,637 contracts from 46,786 contracts previously.
Meanwhile, the FBM KLCI ended 6.05 points higher, at 1,797.42.
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