KLOFFE'S KLSE CI Futures Weekly Market Commentary

MARKET MOVEMENT

The KLCI Futures were traded at the rangebound where December Futures traded at its low of 541.0 on Monday morning and its high of 596.9 on Thursday. The volume on the spot month contract for this week decreased to 10,785 contracts from 14,776 contracts last week. However, roll-over activities started early with 3,783 January 1998 contracts traded. This brought to a total volume of 14,568 KLCI futures contracts with 11,090 open interest for the whole week.

The market started with a bearish note on Monday as currencies fell to a record low, since the floatation of ringgit in 1973, to 3.9465 against the greenback. However, the futures managed to stand at premium for the next three days when relatively good news on Japan and China in favour of helping ASEAN's development were announced. The futures soften and closed at 574.2 index points on Friday as profit taking in the cash market dragged down the futures. The KLCI closed at 578.76 when heavyweight component stocks managed to sustain index at the positive territory, up from 577.58 on Thursday.

MARKET OUTLOOK

Quiet.
Thin volume is expected for the coming week as Christmas and New Year are just down the road.Cash and futures market should be traded at a rangebound of 540 and 600.

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)
Return to SHU's Corner Mainpage