KLCI futures close higher, tracking firmer cash market

KLCI futures close higher, tracking firmer cash market
Business & Markets 2014
Written by Bernama
Wednesday, 19 February 2014 19:16

KUALA LUMPUR (Feb 19): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives closed higher today, tracking the firmer cash market, a dealer said.

Phillip Futures Sdn Bhd Dealer, Elky Liam Kian Yap, said the FBM KLCI erased its earlier losses to settle higher, lifted by gains in plantation stocks like IOI Corp Bhd and Kuala Lumpur Kepong Bhd (KLK).

"The gains came ahead of Malaysian corporate earnings, where KLK has reported its earnings of 0.28 today, which met the estimation of 0.275," he told Bernama.

Meanwhile, he said that IOI Corp Bhd is scheduled to announce its earnings on Feb 21, along with earnings releases from Hong Leong Financial Group Bhd, YTL Corp Bhd and Hong Leong Bank Bhd.

On the regional front, Asian shares ended mixed, as investors were being conservative before looking into details of the US Federal Reserve's January policy meeting, when it decided to trim its monthly asset buying by another US$10 billion.

Spot month February 2014 and June 2014 added 7.5 points to 1,833 and 1,831 respectively, March 2014 increased seven points to 1,833.5, and September 2014 advanced eight points to 1,829.

Turnover rose to 3,802 lots, from Tuesday's 3,161 lots, while open interests increased slightly to 35,980 contracts, from 35,308 contracts previously.

The underlying FBM KLCI closed at 1,829.45, up 4.21 points.