DJ -190/-2%, as weaker oil prices and more geopolitical unrest ( Iran & North Korea) raised worries that the recession may not be waning as soon as some had hoped...CNN.
8.25 : DJ futs 0 . NK -140/-1.5% and Kos -1%. Commodities weak.
A real test today to see whther the recent toppish outlook would shift into a pullback mode. FKLI below 1080 is bad for the longs as 1100 will seem far feteched in the coming days. Klci downside, however, is seen near 1085 and strong support at 1080 today. So it will be a close call today.
I suspect Fkli may get stuck near 1080 at the opening, followed by a lower 72-80 trading band if selling pressure persists. I doubt there will be any significant buy signal today.
5 years ago
May I know what will happen to FKLI when KLCI adopt 30 components on 1st July.
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ReplyDeleteFkli will continue as usual and use FBM Klci as the underlying products to calculate final settlement value. ( july09 contract onwards). While I am not aware of any indicative FBM Klci value, I believe it will not differ far from the current Klci …say +/- 5point ? Fund houses can calculate the value as the 30 stocks have been decided.
ReplyDeleteNot 1st July but 6th July