13 Mar 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Mar month dropped 20.5 points or 1.37% to closed lower at 1475.5. Malaysian stocks tumbled to a new one-year low on Wednesday as the FBM KLCI extended its losing streak to four days. Investor concerns over U.S. President Donald Trump’s import tariffs intensified, raising fears that his trade policies could hinder economic growth and have global repercussions.

Overnight Dow Jones index dropped 82 points to closed lower at 41350. U.S. stocks edged higher on Wednesday as cooler-than-expected inflation data helped ease a sharp selloff. However, gains were limited by escalating concerns over President Donald Trump's turbulent, multi-front tariff war. The S&P 500 and Nasdaq ended in positive territory, with the Nasdaq receiving a strong boost from tech and momentum stocks.

The actively traded FKLI contract extended its downtrend from the previous session, breaking below the mid-point of the wide consolidation range at 1,580–1,575, signaling continued bearish momentum. However, a crucial support zone is identified at 1,463–1,460, where the price may stabilize for a potential pause before further selling pressure. If this support holds, consolidation trading could follow; otherwise, a breakdown below this level may lead to further declines. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1465 and 1474, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1470 with targets at 1474/1481 and stop-loss at 1465

Short positions may be opened below 1470 with targets at 1465/1459 and stop-loss at 1475

FCPO

FCPO May month contract dropped 1 point or 0.02% to closed almost flat at 4487. Malaysian crude palm oil futures moved within a narrow range on Wednesday, supported by stronger Dalian palm olein prices, while weaker soyoil prices limited gains.

Overnight soybean oil for the May contract dropped 0.25 to closed lower at 41.68. Dalian’s active palm oil contract rose 28 points to close higher at 9028 on previous night session.

The actively traded FCPO contract continues to consolidate within a wide sideways range and is currently hovering around the mid-point. On a smaller timeframe, it is trading within a narrow range inside a slight upward consolidation channel. Support is seen between 4,475 and 4,470. If the price holds above this level, it may maintain an upward trading pattern, potentially moving toward the 4,520–4,515 range. A breakout above this level could lead to further gains. However, if the price fails to hold above 4,475–4,470, it may decline toward the previous support zone at 4,450–4,445. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4473 and 4495, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4473 with targets at 4495/4516 stop-loss at 4453

Short positions may be opened below 4473 with targets at 4449/4428 stop-loss at 4493

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.