FBM KLCI

THE FTSE Bursa Malaysia KLCI ( FBM KLCI) futures contract is expected to trade on sideways, tracking the performance of the underlying cash market.

Rakuten Trade Sdn Bhd head of Research Kenny Yee said the market bellwether would likely move at the 1,680 to 1,700-point levels.

He said among external factors that would drive the KLCI futures included the US-China 90-day truce to resolve their differences over trade.

At the recent G20 summit in Buenos Aires, both US President Donald Trump and his Chinese counterpart Xi Jinping, reached an agreement to hold off on slapping additional tariffs on each other’s goods after Jan 1, 2019, as talks continued between the US and China.

“The world market will also be closely watching the US Federal Reserve’s decision on its rate hike, but as of now, the US economy is weakening, hence, a potential cause to pause the hike.