KLCI future likely to trade higher

The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts are likely to trade higher next week in tandem with the cash market.

Affin Investment Bank vice-president and head of retail research, Dr Nazri Khan, said the FTSE Bursa Malaysia KLCI (FBM KLCI) should have more energy to carry the current rally higher, at least to end-January next year.

"This is given the extent of strong rally in the last four months, which saw the benchmark index registering a whopping gain of 9.9 per cent over the September-December period," he told Bernama.

On a Friday-to-Friday basis, December 2013 added 9.5 points to 1,821 points while March 2014 and June 2014 both gained 7.5 points to 1,819 points and 1,813.5 points, respectively.

January 2014 was introduced at 1,822 points.

Turnover fell to 24,676 lots from 91,357 lots recorded last week, while open interest decreased to 43,735 contracts from 50,821 contracts last Friday.

The benchmark FBM KLCI ended the week 2.09 points higher at a fresh all-time high of 1,826.95 points, surpassing the previous all-time high of 1,824.29 points on Tuesday and this level was breached on Thursday when the index perked to 1,824.86 points.