4 Jul 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Jul month dropped 1 point or 0.06% to closed moderately lower at 1546.5. The FBM KLCI napped a five-day winning streak on Thursday as investors locked in profits following the recent gains, despite mostly positive regional markets.

The Dow Jones index rose 344 points to closed higher at 44828 on previous session. Wall Street ended higher on Thursday, with the S&P 500 and Nasdaq hitting fresh record closes for the third straight week. The rally was driven by Nvidia’s surge toward a $4 trillion valuation and a stronger-than-expected U.S. jobs report. Investors largely brushed off reduced hopes for a rate cut this month. The Dow also gained 0.77%, closing just 0.41% below its all-time high.

The actively traded FKLI contract remains within a broader downward channel on the daily chart. However, short-term price action has shown an upward momentum since June 23. We maintain our view that the index is still in an uptrend phase, though recent movements have flattened into a sideways range, with resistance around 1554–1555 and support at 1540–1542. A breakout in either direction could determine the next move. For today, the outlook leans toward a technical correction. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1544 and 1553, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1548 with targets at 1553/1559 and stop-loss at 1543

Short positions may be opened below 1548 with targets at 1544/1539 and stop-loss at 1553

FCPO

FCPO Sep month rose 29 points or 0.71% to closed higher at 4091. Malaysian palm oil futures climbed for a second straight session on Thursday, buoyed by strength in rival Dalian oils, though gains were capped by softer crude oil and Chicago soyoil prices.

CBOT soyoil active traded contract dropped 0.4 points to closed lower 54.67 on previous session. Dalian’s active palm oil contract rose 36 points to close higher at 8514 on previous night session.

The actively traded FCPO contract continues to move within a sideways consolidation pattern on the daily chart, hovering near the upper boundary of the range. On the hourly chart, prices surged twice to the 4105–4110 zone, forming a potential double top before retracing back to the 4080–4085 range — now acting as immediate resistance. A successful breakout above this zone could lead to a further climb toward 4106 and possibly 4128. However, failure to break higher may trigger a technical correction after the recent rally, with downside potential toward the 4040–4045 support zone. Our primary view favors a technical pull back to come down first and trader may consider buy on retracement. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4061 and 4084, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4084 with targets at 4106/4128 stop-loss at 4064

Short positions may be opened below 4084 with targets at 4061/4038 stop-loss at 4104

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.