Influenced by last Friday rally in Wall Street, Malaysia Index Futures started the week 11.5 points higher but relented momentarily to profit take selling to hit the day low at 1169. Mirroring the Asian markets strength and European stocks at 10-month highs fuelled by speculation of strengthening global economic recovery; futures scaled higher in the afternoon session and hit intraday high at 1181.5 before settling at 1179.5, a gain of 20 points. Signs of month-end roll activities began to appear on turnover of 1227 pairs traded throughout the day between -2.5 to -0.5.
With the mixed performance in Wall Street as investors speculated the central bank will keep interest rates low longer than anticipated, futures is poised to trade range bound today with support and resistance pegged at 1169 and 1190 respectively.
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