14 Mar 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Mar month rose 29 points or 1.97% to closed higher at 1504.5. The FBM KLCI rebounded on Thursday, snapping a five-session losing streak that erased nearly 80 points. 

Overnight Dow Jones index dropped 537 points to closed lower at 40813. 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 recovered in the previous session and remains within a broad sideways range. However, it is trading above the mid-range level of 1479–1482, indicating support against further declines in the broader outlook. The recovery faces strong resistance at 1507–1506, the previous low recorded on August 6, suggesting the index may continue consolidating below this level. In today’s session, selling pressure could resurface, with immediate support at 1492–1491. Holding above this range may present buying opportunities, while failure to hold could drive prices lower toward 1486–1487. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1492 and 1500, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1492 with targets at 1500/1506 and stop-loss at 1487

Short positions may be opened below 1492 with targets at 1486/1480 and stop-loss at 1497

FCPO

FCPO May month contract rose 52 point or 1.16% to closed higher at 4539. Malaysian crude palm oil futures closed higher on Thursday, supported by lower production levels, though gains were limited by ongoing concerns about demand from major importing countries.

Overnight soybean oil for the May contract dropped 0.40 to closed lower at 41.28. Dalian’s active palm oil contract rose 40 points to close higher at 9086 on previous night session.

The actively traded FCPO contract continues to move within a broad sideways consolidation and is currently hovering above the upper boundary of the range. On a larger scale, we see support in the 4435–4430 range. On the hourly chart, a minor consolidation is forming within an upward channel, with support at 4515–4510. Holding above this level could maintain an upside bias, while a breakout above the 4550–4545 resistance zone may push prices higher toward 4565–4570. However, failure to break resistance could trigger selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4527 and 4548, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4527 with targets at 4548/4568 stop-loss at 4507

Short positions may be opened below 4527 with targets at 4506/4485 stop-loss at 4547

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.