31 Jul 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Aug month dropped 1 point or 0.07% to closed almost flat at 1523.   The profit-taking on Bursa Malaysia continued on Wednesday, with investors cashing out ahead of the Aug 1 US tariffs deadline and the Federal Reserve rate decision later tonight.

The Dow Jones index dropped 171 points to closed lower at 44461 on previous session. U.S. stocks closed well off earlier highs after a choppy session on Wednesday, as Federal Reserve Chair Jerome Powell chilled expectations the central bank might be poised to cut rates at its September meeting.

The actively traded FKLI contract has rolled over to the August month and continues to trade within a broader downward channel. On the hourly chart, the index recently tested the resistance zone at 1527–1529 several times but failed to break through, keeping momentum biased to the downside. Key support is identified at 1515–1517, which must hold to avoid further declines. On the upside, resistance remains at 1527–1529. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1521 and 1526, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1521 with targets at 1526/1532 and stop-loss at 1516

Short positions may be opened below 1521 with targets at 1516/1510 and stop-loss at 1526

FCPO

FCPO Oct month rose 24 points or 0.56% to closed higher at 4278. Malaysian palm oil futures edged higher on Wednesday for a second consecutive session, lifted by strength in rival Dalian oils and a weaker ringgit, which enhanced the commodity’s appeal in major export markets.

CBOT soyoil active traded contract dropped 0.67 point to closed lower at 56.11 on previous session. Dalian’s active palm oil contract dropped 42 points to close lower at 8930 on previous night session.

The actively traded FCPO contract continues to move within an upward channel on the daily chart, with prices currently hovering around the channel’s support zone at 4245–4255. On the hourly chart, the market remains in sideways consolidation within a broad range, with 4350–4355 forming the upper boundary and 4200–4195 the lower boundary. In the previous session, the price failed to hold the mid-range of 4285–4290, shifting momentum toward a downward bias. Immediate support is now seen at 4240–4245, with a lower support level at 4235–4230, which is crucial to sustain the strong buying momentum observed since July 29. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4254 and 4278, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4278 with targets at 4298/4320 stop-loss at 4258

Short positions may be opened below 4278 with targets at 4254/4233 stop-loss at 4298

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.

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