BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
Despite an initial rally at the opening bell, quick profit-taking pushed the FBM KLCI lower on Thursday as the key index lingered in negative territory for most of the trading session.
The broader market mirrored this downbeat sentiment by ending weaker as market breadth remained negative at 448 advancers vs 653 decliners.
Looking ahead, the FBM KLCI may continue to face modest downside pressure as investors weigh lingering profit-taking in the absence of fresh domestic catalysts.
Any further weakness in global cues or softening macroeconomic data could limit upside potential and keep the benchmark under pressure in the near term.
Market sentiment may also be tempered by political uncertainty ahead of the Sabah state election over the weekend, prompting investors to adopt a more cautious and selective trading approach, particularly in cyclical and high-beta sector.
Technically, the key index has formed a bearish candle to remain in the longer-term consolidation zone.
Should further weakness materialise, the near-term supports are envisaged at 1,613-1,607 points. On the other hand, the immediate resistances are located at 1,625-1,630 points.
Malacca Securities Research
As we head towards the end of the trading week, we believe buying activities will be slower today.
Nevertheless, we continue to like Ranhill Utilities Bhd as it is poised to benefit from the rising water consumption in Johor due to the Johor-Singapore Special Economic Zone (JS-SEZ) and data centre developments.
Meanwhile, with ITMAX System Bhd setting new quarterly profit record and experiencing a breakout yesterday, investors can continue to monitor the stock for entry opportunities.
We like ITMAX due to its continuous contract wins and sticky solutions. Lastly, popular digital media company Foodie Media Bhd (M+ target price: 47 sen) will be listed on the ACE Market today.
The FBM KLCI index closed in the negative territory. The technical indicators are showing a weaker signal; the MACD histogram is hovering in negative territory while the RSI is below 50, indicating downward momentum may persist.
Resistance is anticipated around 1,632-1,637 while support is located at 1,597-1,602. – Nov 28, 2025
