FBMKLCI FUTURES

KENANGA FUTURES SDN BHD Company No. 353603-X DAILY PREVIEW

June 7, 2023
FBMKLCI Futures daily chart Preview
Fundamental
Expect futures to trade range bound with slight upward bias today following overnight
U.S. stocks market mild rebound while retreat in crude oil prices and lack of fresh local
catalyst might cap gains. Back in the state, U.S. stocks rebounded and closed higher on
Tuesday, aided by some advances in economically sensitive sectors, as participants
awaited inflation data which expected to show consumer prices cooled slightly on a
month-over-month basis in May and the Federal Reserve's policy meet next
week. Around the region, Asian stock markets struggled for direction to end mixed
Tuesday after latest data indicated some signs of economic weakening in the US and as
participants turned focus to next week's US Federal Reserve meeting. On the local front,
the FBM KLCI pared most of its earlier losses to close marginally higher as bargain buying
emerged in selected index heavyweight stocks despite mixed regional peers as market
breadth remained cautious. At the closing, the index ended 1.91 points higher at
1,383.17 with top gainers for the day were IHH, SDPL, CIMB, IOI and AXIATA
shares. Futures to cash basis weakened to 2.5 points discounts from par.
Technical
Futures opened on a steady tone but trended lower thereafter on persistent selling
interest in the absence of follow through buying and lack of fresh buying catalyst. The
May futures contract declined 1-point to settle at 1,380.5 tracking mixed regional peers
performance despite gains in the underlying cash market, forming a short black bodied
candlestick pattern with short upper and long bottom shadow, indicating bears
dominated the session but bulls managed to pulled the price higher to close near its
overnight level. On the technical perspective, MACD indicator issue a selling signal while
RSI indicator remained at an oversold region. Thus, expect futures to trade on a
supportive tone today tracking small gains in overnight U.S. equities market while losses
in crude oil prices and in the absence of local impetus might scale back buying
interest. Hence, the support and resistance for today can be pegged at 1,373.0 and
1,388.0 respectively.
Strategy
Trader may long with a stop on or below 1,373.0.

Source: Bloomberg O/I chg Open Interest Previous Week

Contract Sett Change High Low Volume Open Int O/I chg Value USD 3mth avg Value USD High Low
FBMKLCI 1383.17 1.91 1383.58 1377.35 129 Mn 1406.53 1376.78
JUN 23 1380.50 -1.00 1385.50 1373.00 6566 38,456 1,768 26.49 Mn 29,560 442.82 Mn 0.00 0.00
JUL 23 1382.00 -0.50 1385.50 1375.00 66 232 43 .64 Mn 6,357 95.33 Mn 0.00 0.00
SEP 23 1369.00 0.00 1372.00 1364.50 45 752 9 .13 Mn 837 12.43 Mn 0.00 0.00
DEC 23 1368.50 0.50 1370.50 1361.00 67 148 -4 -.06 Mn 639 9.49 Mn 0.00 0.00
6,744 39,588 1,816 27.2 Mn 37,392 560.06 Mn

Futures Fair Value KLIBOR KF Est Premium to Fair 1.78 Pts 0.13%
Contract Exp. Date Index Pt Div Idx Pt (Gross) FV Div Idx pt (Net) FV
0.80%
JUN 23 30/6/2023 2.90 2.07 0.83 2.07 0.83 0.60%
JUL 23 31/7/2023 6.64 2.34 4.30 2.34 4.30 1.0% 0.40%
Roll FV 3.47 3.47 0.20%
0.00%
0.0% -0.20%
Benchmark Indices Relative to FBMKLCI
-0.40%
Source: Bloomberg Last 1d Chg 6m Chg 3m Chg 6m Chg -0.60%
-1.0% -0.80%
FBMKLCI 1383.17 0.14% -5.71% -0.36% 4.89% 15/3/2023
22/3/2023
29/3/2023
5/4/2023
12/4/2023
19/4/2023
26/4/2023
3/5/2023
10/5/2023
17/5/2023
24/5/2023
31/5/2023
7/6/2023
FBM100 9895.32 -0.13% -3.42% 1.25% 2.43%
FV Fair/Premium
FBMEMAS 10196.79 -0.10% -3.29% 1.15% 2.56%
Local Sector Performance againts FBMKLCI 3m Avg Last KF FV
Sector 1d Chg 3m Chg 6m Chg Futures Roll -2.46 1.50 3.47
Financial -0.15% -1.25% -2.90%
4
Plantation 1.17% 0.97% 5.82%
Utilities 0.00% 0.00%
0
Currencies Last 1d Chg 3m Chg 6m Chg
USDMYR 4.6077 0.68% 2.90% 4.82% -4
CNYMYR 0.6474 0.47% 0.21% 3.01%
Dollar Index (DXY) 104.125 0.12% -0.22% -1.38% -8
MYR to DXY -0.56% -3.02% -5.91%
-12
World Equity Indices Relative to FBMKLCI 06/23/2006/30/2007/07/2007/14/2007/21/2007/28/2008/04/2008/11/2008/18/2008/25/2009/01/2009/08/2009/15/20
Source: Bloomberg Last 1d Chg 6m Chg 3m Chg 6m Chg Last Close KF Est
USA
Dow Jones 33573.28 0.03% -0.07% 5.91% 5.98% 30 Days 60 Days 90 Days
S&P 500 4283.85 0.24% 8.69% 11.59% 15.27% FBMKLCI Volatility 5.93% 8.83% 8.03%
NASDAQ 13276.42 0.36% 20.53% 19.92% 27.83%
Europe 20
DAX 15992.44 0.18% 12.14% 8.39% 18.93% 18
CAC 7209.00 0.11% 8.23% 3.59% 14.78% 16
FTSE100 7628.10 0.37% 1.85% 1.58% 8.02%
14
EURO Stoxx 461.68 0.38% 5.84% 5.71% 12.25%
12
Asia Pacific
Nikkei 225 32506.78 0.90% 17.41% 21.10% 24.52% 10

Hang Seng 19099.28 -0.05% 1.51% -1.91% 7.66% 8

Straits Times 3190.11 0.03% -1.10% 3.67% 4.89% 6
KOSPI 2615.41 0.54% 9.29% 12.00% 15.90%
4
TAIEX 16761.66 0.28% 14.57% 11.47% 21.50%
2
S&P/ASX200 7129.64 -1.20% -1.38% 2.09% 4.59%
U.S. markets 0
13/5/2022 13/7/2022 13/9/2022 13/11/2022 13/1/2023 13/3/2023 13/5/2023
U.S. stocks closed up on Tuesday, helped by some advances in economically sensitive sectors, as
investors awaited inflation data and the Federal Reserve's policy meet next week. - Reuters
30D Volalitity (%) 60D Volatility (%) 90D Volatility (%)

Kenanga Futures Sdn Bhd (353603-X)

General Line: (603) 2172 3888 Fax: (603) 2172 2729 Email: futures@kenanga.com.my Source: Bloomberg
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