KLCI futures close mostly lower
The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives closed mostly lower today despite the mixed trend seen in the underlying cash market.
Phillip Futures Sdn Bhd dealer, Liam Kian Yap, said the downtrend was due to weak demand from investors following the little progress in either resolving the US budget dispute or raising the debt ceiling.
"Adding to that, Republican House Speaker John Boehner made a statement that he would not raise the debt ceiling without a 'serious conversation' about what is driving the debt, which increased the worries of a possible US default," he told Bernama.
On the local front, the World Bank had downgraded 2013 forecast for Malaysia's gross domestic product growth to 4.3 per cent, compared with 5.1 per cent forecast made last April.
At the close, October 2013 fell 5.5 points to 1,777, while November 2013, December 2013 and March 2014 were all lost 6.5 points each to 1,776.5, 1,777 and 1,772.5, respectively.
Turnover narrowed to 4,008 lots from Friday's 6,325 lots while open interest slipped to 45,042 contracts from 46,528 contracts last week.
The underlying FBM KLCI closed 0.26 of a point higher at 1,776.82.-- Bernama