Malaysia Future Market Review 030909

Dragged by overnight tumble in Wall Street, Malaysia index futures opened sharply at 1156.5. In the morning session, futures traded listlessly and hovered in a tight range between 1156.5 and 1161 amid lack of fresh catalyst to spur's investors' interest coupled with the weaknesses in regional peers. Unperturbed by the poor showing in regional market, futures climbed higher in the afternoon session on narrowed discount. The buying momentum lifted Sept 09 contract to pierce into the positive territory ad close 2.5 points higher at 1168.

With the decline overnight in Wall Street as reports on job losses and factory orders spurred concern that the economy is struggling to recover, futures is likely to trade lower today with the support and resistance pegged at 1160 and 1175 respectively.