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KLCI futures end lower amid bearish sentiment

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KLCI futures end lower amid bearish sentiment Empty KLCI futures end lower amid bearish sentiment

Post by Cals Thu 07 Nov 2013, 00:55

KLCI futures end lower amid bearish sentiment
Business & Markets 2013
Written by Bernama   
Wednesday, 06 November 2013 19:00
KUALA LUMPUR (Nov 6): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives ended lower today, on bearish sentiment, a dealer said.

Phillip Futures Sdn Bhd Dealer Elky Liam Kian Yap said bearish sentiment kicked in, as investors weighed the implications of strong US economic data for the path of US monetary policy, over the next several months.

"KLCI futures slipped below the crucial psychological 1,800-point level, during the last hour of trading.

"Given that its underlying cash index still holds above 1,800-level, we expect the index might still be able to get some support. However, a slip below the 1,800-level in the cash index, can trigger some selling," he told Bernama.

Spot month November 2013 and December 2013 lost 10.5 points each, to 1,799 and 1,797 respectively, while March 2014 shed seven points to 1,797.5, and June 2014 remained pegged at 1,795.5.

Turnover rose to 5,413 lots from 2,181 lots on Monday, while open interest increased to 46,435 contracts, from 43,277 contracts previously.

The underlying FBM KLCI was down 4.42 points, to 1,803.05.
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