BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI advanced on buying interest in selected index heavyweights during the second half of the trading session in tandem with broadly positive regional market performances.
Trading volume, however, eased to 3.2 billion shares while market breadth remained positive, suggesting an improvement in overall market sentiment.
The FBM KLCI is expected to maintain a cautious bias as investors assess the implications of the US Federal Reserve’s decision to keep interest rates unchanged while keeping doors open for a rate hike in December 2026.
Attention will turn to the advance reading of US 3Q 2026 GDP (gross domestic product) data and the European Central Bank’s (ECB) interest rate decision later tonight which could influence global growth expectations, interest rate sentiment and regional market direction.
The broader market outlook remains cautiously optimistic, supported by positive market breadth and sustained buying interest in selected counters. Improved investor sentiment could provide further opportunities for rotational buying across sectors.
Selective buying may lend support to the key index although upside potential could remain limited amid external uncertainties and a wait-and-see stance among investors.
The immediate resistances are located at 1,620-1,630 points. Meanwhile the immediate supports are pegged at 1,592 points, followed by 1,580 points.
Malacca Securities Research
Despite the US Fed’s decision to hold rates, Alphabet’s disappointing results and negative free cash flow could weigh on local sentiment, particularly in the technology sector.
Stock-wise, we continue to favour Hartanah Kenyalang Bhd (HKB), supported by its RM851 mil order book, an equivalent to approximately 6.8x FY2025 revenue.
Solarvest Holdings Bhd’s increased stake of approximately 16.4% could also strengthen HKB’s access to utility and renewable energy opportunities, including high-voltage substation projects.
Meanwhile, Kee Ming Group Bhd offers related exposure to Solarvest’s project pipeline through its existing RM70 mil M&E (mechanical & electrical engineering) subcontract from the latter’s subsidiary Atlantic Blue Sdn Bhd for a 99.99MWac solar plant in Bukit Selambau, Kedah.
The FBM KLCI remains below key moving averages. However, momentum indicators suggest that selling pressure may be easing with the MACD histogram having expanded towards its positive territory while the RSI traded above the 30 level.
Key resistance lies at 1,628-1,633 while near-term support is expected around 1,593-1,598. – Oct 29, 2026
