KLOFFE'S KLSE CI Futures Weekly Market Commentary

MARKET MOVEMENT

The Kual Lumpur Composite Index Futures (FKLI) was experiencing a rollar coaster week From a bottom of 458.5 to a high of 557.9, FKLI encountered a difference of 99.4 index points. The FKLI ended 543 on Friday.

The Malaysian Ringgit strengthen to a high 4.13 on Friday from intraday low of 4.73 on Monday.

On Friday, IMF managing director, Michel Camdessus said Malaysia doesn't require IMF assistance as the fundamentals are strong. This statement is one of the causes that FKLI closed at a premium to the cash market.

Total contracts traded for the week were 13,508 contracts which increased 35% from the previous week. Open interest climbed to 11,375 as institution investors started coming into the market with confident.

MARKET OUTLOOK

Mix regional sentiments. Although IMF managing director Michel Camdessus was confident with the fundamentals of Malaysia and Singapore, higher interest rates have been cited. Long term outlook of index futures remain unclear.

January 98 contract is expected to be traded at the range of 495 to 565.

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.

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