23 Jun 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI June month rose 1.5 points or 0.10% to closed higher at 1496. Malaysia’s benchmark index opened below the key 1,500 psychological level on Monday, following the U.S.'s unexpected attack on Iran over the weekend, which heightened geopolitical tensions and raised concerns over potential disruptions to Middle East oil supply.

The Dow Jones index rose 35 points to closed slightly higher at 42206 on previous session. Investors are preparing for a potential knee-jerk selloff in stock markets on Monday, as the U.S. attack on Iran over the weekend heightens fears of retaliation and surging oil prices. 

The actively traded FKLI contract opened with a gap down during the morning session, pressured by heightened geopolitical tensions in Iran. On the broader view, the index remains within a downward channel, with the hourly chart showing a bearish pattern of lower highs and lower lows since the open.The index touched a low near the 1,480–1,478 zone before staging a technical rebound, offering potential for short-term buying toward the resistance at 1,490 or possibly up to 1,496. However, fresh selling pressure may emerge at those levels. Our primary strategy remains sell on rebound, unless the index is able to break decisively above the 1,500 mark. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1485 and 1490, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1490 with targets at 1496/1501 and stop-loss at 1485

Short positions may be opened below 1490 with targets at 1485/1479 and stop-loss at 1495

FCPO

FCPO Sep month rose 14 points or 0.34% to closed higher at 4118. Malaysian palm oil futures closed higher on Friday, marking their sixth straight weekly gain, despite subdued demand in major export markets.

CBOT soyoil dropped 0.30 to closed lower at 55.10 on previous session.  Dalian’s active palm oil contract dropped 58 points to close lower at 8490 on previous night session.

The actively traded FCPO contract remained capped below the 4,145–4,150 resistance zone last week, trading within a narrow range. The current setup suggests ongoing sideways consolidation, with prices likely to stay below the resistance area. On the hourly chart, the market continues to form an upward channel, with immediate support seen at the 4,090–4,110 range, and resistance at 4,125–4,130. A breakout above this level could drive prices toward the daily resistance at 4,145–4,150. However, failure to breach this resistance may invite renewed selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4109 and 4131, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4109 with targets at 4131/4152 stop-loss at 4089

Short positions may be opened below 4109 with targets at 4085/4061 stop-loss at 4129

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.