FBM KLCI Futures Likely To Trade With Cautious Upside Bias Next Week

By Siti Noor Afera Abu

KUALA LUMPUR, Oct 17 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is expected to trade with a cautious upside bias next week, as more attractive valuations may spur selective bargain hunting amid fragile investor sentiment.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects bargain hunting to gradually gain traction next week as investors reassess valuations, although persistent foreign selling and volatile external conditions could restrain the recovery.

“We anticipate the FBM KLCI to trade within 1,600–1,630 next week, with downside support from domestic liquidity and potential upside driven by renewed institutional interest. A broader recovery, however, would require stronger market participation beyond selected heavyweights,” he told Bernama.

Meanwhile, Berjaya Research Sdn Bhd head of research Kenneth Leong said the immediate resistance levels are located at 1,630 and 1,640 points.

The immediate support is seen at the 1,600 psychological level, followed by 1,580 points, he added.

The FBM KLCI futures ended mostly higher this week, tracking the underlying cash market.

On a Friday-to-Friday basis, the October 2026 and November 2026 contracts eased 8.0 points  each to 1,599.5 and 1,601.0, respectively.

The December 2026 and March 2027 contracts were down 8.5 points to 1,606.5 and 1,592.0, respectively.

Weekly turnover decreased to 33,167 lots on Friday from 38,472 lots last week, while open interest rose to 47,020 contracts from 46,870 contracts a week earlier.

On a Friday-to-Friday basis, the FBM KLCI eased 0.69 of a point to 1,607.76 from 1,608.45 a week earlier.

-- BERNAMA