Volume and Open Interest (1
year window) |
Daily
Price Movements (20 day window) |
KLOFFE'S KLSE CI FUTURES(FKLI)
WEEKLY MARKET COMMENTARY
November 27, 1998
Volume and Open Interest (1
year window) |
Daily
Price Movements (20 day window) |
| MARKET MOVEMENT The Kuala Lumpur Composite Index Futures (FKLI) was traded from a low of 472 to a high of 513, a different of 41 index points. The direction on both cash and futures are mainly caused by anticipation on interest rate cut in the United States. The cash market continued to be supported by local institutions and retail players as window dressing activities continued. In the futures market, roll over activities continued to be the major activities as November futures will expire next monday. However, new long positions were being created when market is heading up which means that the uptrend might be sustainable. November futures settled at 502 on Friday, a premium of more than 3.92 index points compared to the underlying of 498.08. For December futures, it closed at 521.1, a premium of 23.02 index points. To recap, total contracts traded for the week were 6,783 contracts, an daily average of 1357 contracts.The 20-day volatility stayed below 40% level. Total month end open interest stayed at 2,400 level. |
MARKET OUTLOOK The market will remain neutral to bullish. However, there might a hiccup on this bullish trend as the 3rd quarter GDP growth rate will be available over this weekend. Resistance would be at 545, 532 and 526 while support can be seen at 500, 490, 479 levels.
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DISCLAIMER
The weekly market commentary has been compiled by Shu, Meng Chan (article writer) for
private views only. The weekly market commentary articles are being released for the
interest of Shu, Meng Chan only and should not be considered investment advice. There is
no warranty or representation expressed or implied by Shu, Meng Chan as to the the
accuracy or completeness of the commentary herein. The content of the articles will not
reflect the general view point of the described (KLOFFE)Futures Exchange. Shu, Meng Chan
will not be liable for any action taken by viewers upon reading Shu's Corner KLOFFE's
Weekly Market Commentary.
(mshu@tm.net.my)
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