BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI managed to eke out marginal gains on the eve of the Chinese New Year holiday, lifted by buying interest across selected index heavyweights in the second half of the trading session.
Trading activity, however, tapered off to 1.81 billion shares from 2.43 billion shares in the preceding session as many market participants had already retreated ahead of the festive break.
Market breadth turned positive with 527 advancers edging 464 decliners while price movements across the broader market were largely insipid amid thin liquidity conditions.
In the near term, the FBM KLCI is likely to trade on a subdued note as most traders are still on the mid-week festive break, hence resulting in lighter participation and muted conviction levels.
The lack of fresh catalysts coupled with lingering external uncertainties may keep the benchmark index range-bound.
Nonetheless, underlying domestic economic fundamentals remain intact which could help limit downside pressure and support selective bargain hunting once market participation gradually normalises.
Technically, the FBM KLCI has formed a dragonfly doji candlestick pattern, signalling a slight bullish undertone as the key index bounced off EMA20.
On the upside, the immediate resistances are at 1,754 points and 1,760 points respectively. Meanwhile, the immediate support remains pegged at 1,732 points, followed by 1,720 points.
Malacca Securities Research
Strong ringgit environment at RM3.90/US$ is likely to spur trading interest in banking and consumer heavyweights.
Additionally, it could also provide near-term upside for poultry players such as Leong Hup International Bhd and CAB Cakaran Corp Bhd which we view as laggards amid a lower input-cost environment while the removal of government subsidies is expected to support egg ASPs (average selling prices).
Despite the stronger currency is seen as a headwind for export players, we believe Malaysian glove makers could benefit in the near term as regional supply disruptions and operational challenges persist as Chinese players in Indonesia are facing production hiccups which may delay operations until end-1Q CY2026.
The FBM KLCI closed higher. However, technical indicators suggesting weaker momentum at this current juncture as the MACD histogram tilted into the negative regions while the RSI approaching the 50 level.
Resistance is seen around 1,756-1,761 with support at 1,721-1,726. – Feb 19, 2026
