KUALA LUMPUR: The FBM KLCI futures contract on Bursa Malaysia Derivatives is expected to see an uptrend this week, tracking the underlying cash market.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects the FBM KLCI to oscillate between 1,600 and 1,630 this week, as investors await new catalysts, whether domestic or external, to provide firmer directional cues.
"Given the strong support at 1,600 and the current absence of significant market drivers, we expect the FBM KLCI to oscillate between 1,600 and 1,630.
"Such range-bound trading should allow the market to consolidate further," he told Bernama.