Wall Street and Malaysia stock market
The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives concluded the session on a positive note today.
At the close, the spot month June 2024 saw an increase of 19 points, reaching 1,622.0. The new month July 2024 stood at 1,625.5, while September 2024 gained 19.5 points, closing at 1,611.5. December 2024 rose by 21 points, settling at 1,618.5.
Turnover experienced a significant surge, reaching 17,673 lots compared to 13,567 lots on the previous Friday. Open interest also grew, reaching 62,507 contracts from 59,191 contracts previously.
By 5 pm, the FBM KLCI showed a substantial increase of 18.72 points, or 1.17 per cent, closing at 1,615.40 from Friday’s close of 1,596.68.
After the closure on Monday, the local bourse exhibited promising signs of catching up today, particularly after closing below the crucial 1,600 mark last Friday.
Anticipated bargain hunting activities are expected to emerge, likely keeping the index within the 1,600-1,615 range for the day. Additionally, optimism surrounding expectations that the European Central Bank (ECB) may lower interest rates on Thursday is likely to enhance regional trading sentiment.
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