FBM KLCI futures end firmer

KUALA LUMPUR, Nov 24 — The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives closed firmer today as investors’ took a cue from the bullish performance of the underlying cash market.

At the close, November 2022 rose 68.0 points to 1,513.5 and December 2022 advanced 69 points to 1,516.0, while March 2023 and June 2023 increased 68.5 points each to 1,508.5 and 1,507.0, respectively.

Turnover surged to 21,612 lots from 5,529 lots yesterday, while open interest widened to 53,304 contracts from 36,041 contracts previously.

At 5 pm, the benchmark FBM KLCI jumped 58.38 points, or 4.04 per cent, to a near three-month high of 1,501.88 from 1,443.50 at Wednesday’s close following the clarity in the local political scene, coupled with positive external developments that fueled investors’ risk appetite.

Tambun Member of Parliament Datuk Seri Anwar Ibrahim was sworn in as Malaysia’s 10th Prime Minister this afternoon, taking his oath before the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah.

Malaysia University of Science and Technology economist Geoffrey Williams said the positive development was much welcomed as it cleared up the uncertainty and settled the markets. — Bernama