BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI resumed trading on Thursday on a firmer footing, remaining in positive territory throughout the session.
Trading activity improved with 2.04 billion shares exchanging hands compared to 1.81 billion shares in the previous session as market participants gradually return from the mid-week festive break.
The broader market also advanced, supported by positive market breadth with 748 gainers comfortably outpacing 288 decliners.
Looking ahead, the FBM KLCI is expected to maintain a slight positive bias in the near term, underpinned by improving market breadth and the index’s ability to stay firm in the positive territory despite lighter trading volumes.
The moderation in turnover appears largely seasonal amid the holiday-shortened week, suggesting that participation could gradually pick up once investors return, potentially lending further support to the benchmark.
That said, upside momentum may remain measured as investors stay cautious ahead of the advance reading of the US 4Q 2025 GDP (gross domestic product) data which could shape expectations on the US Federal Reserve’s policy trajectory and influence global risk sentiment.
Technically, the FBM KLCI has gapped up and looks to re-test the upper band of the short-term consolidation resistance at 1,756 points, followed by the next resistance at 1,760 points respectively.
Meanwhile, the immediate support remains pegged at 1,734 points, followed by 1,720 points.
Malacca Securities Research
That the US memory industry faces supply constraints with demand outstripping the overall supply from the “big three” players this year, such an environment would be positive for TMK Chemical Bhd’s top line.
For perspective, TMK provides chemicals that are widely used in the production and manufacturing industries which are also the foundational building blocks of the E&E (electrical and electronic) and semiconductor sectors.
With its exposure to the Singapore market, we believe Micron Technology’s capacity ramp-up which is expected to come on stream by next year would place TMK in a sweet spot to benefit.
Meanwhile, we believe the tight AI (artificial intelligence) race may benefit selected technology players in Malaysia despite the strong ringgit environment as some technology companies may be using the local currency for their transactions.
The FBM KLCI closed on a firmer footing. However, technical indicators suggest mixed momentum at this current juncture as the MACD histogram tilted into the negative region while the RSI is hovering above the 50 level.
Resistance is seen around 1,757-1,772 with support at 1,732-1,737. – Feb 20, 2026
