FKLI Trading 8th October 2009
In line with most major markets advance, KL index futures opened firmer on follow-through interest but the momentum tapered off soon as traders seemed reluctant to make significant moves ahead of the start of earnings season, led by Alcoa Inc, the largest US aluminum producer. Despite recent days steady performance, buying interest remains lukewarm and volume stays low, reflecting a sense of caution in the marketplace. Nonetheless, we reckon that
KL index futures ability to remain above 1200 point should set the stage for more climbing going forward. At the close, October contract edged 6 points higher to settle at 1223.5.
For the moment, KL market seems stuck in range bound trading pattern and it will take some very significant news to break out and then maintain the direction. For the coming sessions, expect futures to remain confined within 1217 to 1227 trading band.
KL index futures ability to remain above 1200 point should set the stage for more climbing going forward. At the close, October contract edged 6 points higher to settle at 1223.5.
For the moment, KL market seems stuck in range bound trading pattern and it will take some very significant news to break out and then maintain the direction. For the coming sessions, expect futures to remain confined within 1217 to 1227 trading band.
posted by nomadhunter at 11:34 PM
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