12 Mar 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Mar month dropped 17 points or 1.12% to closed lower at 1496. The FBM KLCI closed lower on Tuesday as a broad-based selloff drove over 900 stocks into the red, while only 200 managed to stay positive, reflecting weak investor sentiment.

Overnight Dow Jones index dropped 478 points to closed lower at 41433. U.S. stocks declined on Tuesday, extending the largest selloff in months, as investors grew concerned about the impact of new tariff threats on the global economy. Trading remained volatile amid conflicting tariff developments, while brief optimism over progress toward a Ukraine-Russia ceasefire provided a temporary boost to equities.

The actively traded FKLI contract dropped sharply in yesterday’s session, breaking below another support level at 1495–1494. It is currently holding above a new support zone at 1492–1491. A sideways consolidation is observed on the hourly timeframe, with this new level acting as the midpoint of the range. If the price remains supported above this level, buying interest could push it toward 1498–1497, with the highest rebound potential at 1503–1504. However, if support fails and the price breaks below 1487–1486, the index could decline further toward 1482–1480. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1492 and 1498, respectively

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1492 with targets at 1498/1504 and stop-loss at 1587

Short positions may be opened below 1492 with targets at 1487/1482 and stop-loss at 1497

FCPO

FCPO May month contract dropped 11 points or 0.24% to closed lower at 4488. Malaysian crude palm oil futures fell for a second consecutive session on Tuesday, weighed down by weaker Dalian oils, though higher palm oil imports by India helped cushion the decline.

Overnight soybean oil for the May contract dropped 0.33 to closed lower at 41.93. Dalian’s active palm oil contract dropped 12 points to close lower at 8946 on previous night session.

In the previous session, the active palm oil price traded lower but remained within a broad sideways range. Support is seen at 4425–4430, a crucial level for the uptrend that started on March 5. Resistance is noted at 4475–4480, with the price struggling to move higher for now. A consolidation phase with a slight upward bias is likely. If the price breaks above 4480–4485, further upside momentum could follow. However, if it rebounds and fails to break above this level, the price may continue trading lower. Support remains at 4455–4460. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4459 and 4481, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4481 with targets at 4506/4531 stop-loss at 4461

Short positions may be opened below 4481 with targets at 4459/4437 stop-loss at 4501

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of the investment.