BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI reversed its earlier intraday gains to extend its pullback in tandem with the weakness across most regional markets, weighed by late session selling pressure in selected index heavyweights.
Trading activity edged higher with total volume rising to 3.32 billion shares from 3.20 billion shares in the previous session.
Market breadth remained negative with 677 decliners outnumbering 436 advancers as selling pressure was relatively broad-based.
We maintain a cautious bias on the FBM KLCI in the near term as external factors continue to weigh on market sentiment and limit risk appetite.
The recent pullback coupled with broad-based weakness and late session selling in selected index heavyweights suggests that investors remain selective amid the uncertain external backdrop.
At the same time, the rising bonds yield could curb risk appetite for the equities market.
Technically, the key index has formed another bearish candlestick after a choppy trading session. The immediate resistances remain located at 1,687 points, followed by 1,700 points. Meanwhile the supports are pegged at 1,660 points and 1,655 points respectively.
Malacca Securities Research
We expect the FBM KLCI to remain cautious amid elevated yields and oil prices with upstream O&G (oil & gas) counters likely to draw trading interest.
Hibiscus Petroleum Bhd offers direct oil-price exposure with July production reaching c.32,000 boe/d (barrels of oil equivalent per day) and its FY2027 sales guided at 10.7-11.2 million boe.
Meanwhile, Dayang Enterprise Holdings Bhd remains supported by its >RM4.0 bil order book with a RM1.0 bil Saudi MCM (maintenance, construction and modification) tender providing additional upside potential.
Elsewhere, Deleum Bhd retains earnings visibility on its RM2.4 bil order book, supported by on-going production optimisation, maintenance and asset-enhancement activities.
The FBM KLCI maintained a defensive posture on Thursday though momentum signals reflect early bottoming efforts via a MACD rounding bottom formation while the RSI holds below 50.
Overhead resistance sits at 1,687-1,702 with support established at 1,642-1,657. – Sept 25, 2026
