BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI extended its decline on Thursday with the benchmark index staying in the negative territory for most of the session amid profit-taking in selected banking and utilities heavyweights.
The lower liners, however, outperformed as both the FBM Small Cap and FBM ACE indices notched modest gains as market breadth turned fairly even with 529 advancers against 537 decliners.
The FBM KLCI is expected to remain in a consolidation phase amid the lack of domestic catalysts and a generally cautious risk tone.
While bargain-hunting could emerge on selected heavyweights, upside is likely to stay capped as investors await clearer policy or earnings-driven leads on the local front.
In the near term, market sentiment will also be guided by external cues, particularly from the upcoming US Personal Consumption Expenditures (PCE) Index data, a key gauge of inflation that could influence expectations on the US Federal Reserve’s rate path slated to be released later tonight.
Technically, the key index has formed another bearish candlestick but well remain within the longer-term consolidation band.
The range-bound trading could prolong with immediate resistance at 1,632 points, followed by 1,638 points. Meanwhile, the near-term supports remain pegged at the 1,612-1,600 levels.
Malacca Securities Research
Growing optimism over a US Fed rate cut next week as well as year-end window dressing activities is expected to support the overall sentiment on the Bursa Exchange.
Meanwhile, as IJM Bhd is in the midst of finalising its recent data centre development, new project awards are expected to be rolled out at least in the medium term.
Hence, we believe there will be potential demand for MN Holdings Bhd and Powerwell Holdings Bhd in the upcoming quarters.
Also, we believe Powerwell is anticipating a recovery in its Bangladesh segment next year on the back of healthy progress toward driving higher adoption – particularly within the renewable energy segment – as alluded to by the group.
The FBM KLCI index closed in negative territory. However, the technical indicators are showing a buy signal; the MACD histogram is hovering in positive territory while the RSI is trading above 50.
Resistance is anticipated around 1,636-1,641 while support is located at 1,596-1,601. – Dec 5, 2025
