KLCI futures to trade steadier next week

The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is likely to trade steadier next week in line with the
underlying equity market amid positive sentiment from global markets.

Affin Investment Bank vice-president and head of retail research Dr Nazri Khan said the local bourse would be positively impacted by the recovering developing equity markets.

"Caught in the centre of the subprime crisis, the United States and Europe are showing resilience in the wake of the unexpected dovishness of the US Federal Reserve and European Central Bank, despite talks of early tapering," he told Bernama.

On a Friday-to-Friday basis, spot month November 2013 rose 20 points to 1,807.5, December 2013 added 23.5 points to 1,811.5, March 2014 was 24.5 points higher at 1,811.5 and June 2014 gained 24 points to 1,806.

Turnover jumped to 91,357 lots, from 28,806 last week, while open interest increased to 50,821 contracts from 41,562 contracts last Friday.

The benchmark FBM KLCI ended 5.15 points higher at 1,812.72.