BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI snapped a four-day winning run on Wednesday as profit-taking activities on selected index heavyweights emerged.
Trading activity eased to 3.20 billion shares from 3.45 billion shares in the previous session amid the weaker market undertone.
Market breadth was fairly even with 565 advancers against 584 decliners, suggesting that investors remained somewhat cautious amid the mixed broader market.
The FBM KLCI may trade within a consolidation phase in the near term as investors adopt a wait-and-see stance following the recent bout of profit taking.
In the absence of strong fresh catalysts, the key index is likely to hover within a narrow range as market participants continue to monitor upcoming economic data releases and global market developments for clearer directional cues.
While the extension of the ceasefire until negotiations are concluded as announced by US President Donald Trump is welcomed, uncertainties remain high as the Strait of Hormuz remained closed.
Technically, the FBM KLCI has formed a bearish candlestick to pare some of the previous sessions’ gains.
The 1,716 level will remain as the short-term hurdle for the key index to recover towards the next resistances at 1,722-1,730 points. Meanwhile, the immediate support remains located at the 1,700 psychological level, followed by 1,681 points.
Malacca Securities Research
Tracking Wall Street’s positive performance, we expect the FBM KLCI to rebound today.
Meanwhile, buying interest in glovemakers remains evident as the double blockade in the Strait of Hormuz disrupts the procurement of raw materials, leading to higher glove ASPs (average selling prices).
Notably, the world’s largest condom maker, Karex Bhd is also joining this cost pass-through trend.
We also favour EG Industries Bhd’s attempt to break above the MA200, supported by its (i) strong earnings visibility from 5G optical modules; (ii) production ramp-up at its Batu Kawan Smart Factory; and (iii) Thailand facility expansion.
Lastly, AMS Advanced Material Bhd (M+ target price: 38 sen) will make its ACE Market debut today (April 23).
The FBM KLCI retreated slightly with its technical indicators showing positive signals at this current juncture as the MACD histogram expanded into the positive territory while the RSI is trading above 50.
Resistance is seen around 1,725-1,730 with support at 1,690-1,695. = April 23, 2026
