KUALA LUMPUR, Sept 19 (Bernama) — The FTSE Bursa Malaysia Kuala Lumpur Composite Index futures on Bursa Malaysia Derivatives are likely to move higher next week following the positive market sentiment on the cash market, dealers said.

A rally on the US stocks and Asian bourses drove the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) to a 52-week high of 1,218 on Thursday.

Dealers said renewed confidence of a global economic recovery will also spur interest for the FBM KLCI futures.

During the week, the FBM KLCI futures traded mostly higher and ended on a good note, tracking the steadier cash market.

Dealers said although the market next week will see shorter trading hours due to the Hari Raya holidays, the positive uptrend would stay.

The market will re-open on Wednesday after the Hari Raya holidays.

On a week-to-week basis, September 2009 contract rose 11 points to 1,221.5, October 2009 gained 12 points to 1,222, December 2009 increased 13 points to 1,220.5 and March 2010 rose 12.5 points to 1,214.

Turnover for the week was higher at 18,557 lots from 23,698 lots last week while open interests rose to 17,000 contracts from 16,570 contracts.

– BERNAMA