KLCI futures close slightly lower on profit taking

by **Cals** Tue 18 Mar 2014, 19:33

Business & Markets 2014

Written by Bernama

Tuesday, 18 March 2014 19:17

KUALA LUMPUR (March 18): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives, closed slightly lower today on profit taking, a dealer said.

Phillip Futures Sdn Bhd dealer, Desmun Chan Coin Mun, said the futures edged marginally lower for the day, as investors booked profits from yesterday's uplifting index.

However, he said the market was spared from a heavy downside, as the ringgit strengthened against the dollar, leading the Asian currencies.

"Furthermore, the Asian market followed up with overnight Wall Street, after the release of better-than-estimated industrial production data, boosting sentiment for the world's largest economy," he told Bernama.

Meanwhile, he said that the tension from Ukraine seems easing at the moment, as US President Barack Obama said the crisis could still be resolved diplomatically.

Later tonight, Chan said that investors will switch focus on significant US data, in determining whether its economy has relaxed from the winter impact.

At close, March 2014, April 2014 and June 2014 lost two points each, to 1,814.5, 1,813 and 1,808 respectively.
September 2014 added 1.5 points, to 1,806.5.

Turnover fell to 5,054 lots, from 8,081 lots yesterday, while open interest narrowed to 36,532 contracts, from 38,027 contracts on Monday (March 17).

The underlying FBM KLCI closed 5.54 points higher, at 1,820.7.