KLCI futures end marginally lower

by **Cals** Wed 18 Jun 2014, 03:17

Business & Markets 2014

Written by Bernama

Tuesday, 17 June 2014 18:58

KUALA LUMPUR (June 17): The FTSE Bursa Malaysia KLCI futures (FKLI) contracts on Bursa Malaysia Derivatives ended slightly lower today, despite the firmer cash market.

Phillip Futures Sdn Bhd dealer, Tan Sek Wei, said that the futures contracts had reversed earlier losses, after the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) was pushed up by last minute immediate buying on most heavyweight stocks, including Public Bank.

"However, the spot month futures closed marginally lower, at a discount to the cash market.

"The trading volume today was relatively lower than normal, as investors were wary of the escalating violence in Iraq, ahead of the Federal Open Market Committee meeting this week," he told Bernama.

On regional bourses, he said that Asian shares dropped for the fourth day, led by the biggest slide in a month for Chinese shares, after foreign direct investment in the world’s second-largest economy, suddenly declined.

Meanwhile, he said that the Russian natural gas exporter started to trim supplies to Ukraine today, after Kiev failed to pay off its energy debts in a dispute that could disrupt supplies to the rest of Europe.

"The disappointed economic reports from England and trimmed energy supply might weigh on the market bellwethers in Europe today," he added.

At close, spot month June 2014 shed half a point to 1,873.5, December 2015 declined 1.5 points to 1,871, July 2014 earned half a point to 1,876.5, while September 2014 was flat at 1,871.5.

Turnover rose to 4,097 lots, from 2,420 lots on Monday, while open interest widened to 35,47 contracts, from 3,257 contracts yesterday.
The benchmark FBM KLCI ended the day 3.02 points higher at 1,874.6.