FBM KLCI Index went further south today. Can we blame the news of bond default? The news shaken investors confidence, created an opportunity for market sell off. Cash market lost 17.58 points or 1.04 percent at the end of the day, April futures lost 23 points settled at 1670.50 while May futures contract ended at 1662.50 (-24.00).
In Hong Kong, futures market was a volatile trading session as today is the expiry of the April futures contract. Spot futures settled at 21470 (+180) while May futures contract finished at 21118 (-7). Range of the day for May contract was traded between 21122-21567 (445). The cash market gained 26.43 points finished at 21388.03.
Looks like Hang Seng Index is supported well above 21000 for the time being. But next month? Will we see higher high? Or lower low?
FBM KLCI Index is oversold within these few days. Will we see a rebound soon?
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