BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI recovery streak stretches to three consecutive sessions amid an extended bargain hunting across selected index heavyweights as the key index outperformed the mostly negative regional peers.
Trading volume rose marginally with 2.9 billion shares exchanging hands while market breadth turned negative, implying that the broader market recovery is concentrated in selected counters rather than broad-based.
Looking ahead, the FBM KLCI could face profit-taking following its recent recovery amid concerns over AI (artificial intelligence)-related spendings as well as the escalating geopolitical tension in the Middle East.
Investors will monitor the upcoming US Michigan Consumer Sentiment data for fresh clues on consumer confidence, inflation expectations and the potential implications for the US Federal Reserve’s policy outlook.
External market sentiment and movements in regional equities are also likely to influence near-term trading direction.
The broader market is likely to remain cautious amid the prevailing external uncertainties and selective buying interests.
Meanwhile, the sharp pullback on Nasdaq overnight amid concerns over AI spending could see weakness permeates to stocks across Bursa Malaysia Technology sector today.
The FBM KLCI could attempt to defend the 1,600 level as base building takes shape with the immediate resistances at 1,612-1,620 points. Meanwhile the immediate support remains pegged at 1,592 points, followed by 1,580 points.
Malacca Securities Research
The FBM KLCI may trade mixed amid global technology uncertainty with domestic contract wins and earnings providing stock-specific opportunities.
Jati Tinggi Group Bhd warrants attention after securing a 55% participation, an equivalent to approximately RM312.5 mil in a consortium’s RM568.2 mil Tenaga Nasional Bhd (TNB) substation contract in Paka which further strengthens its order-book visibility.
Meanwhile, Foodie Media Bhd may attract interest after its FY2026 net profit surged 67.7% year-on-year (yoy) to RM15.7 mil on 49.6% revenue growth to RM55.5 mil with total dividends of 1.53 sen/share.
Separately, elevated energy prices may keep Dialog Group Bhd and Gas Malaysia Bhd on investors’ radar although earnings implications differ given Dialog’s terminal and project exposure and Gas Malaysia’s regulated gas distribution operations.
The local bourse climbed to close at 1,608.14 on Thursday, thus cementing its rebound above 1,600 while capping gains below major moving averages.
Backed by a slightly positive MACD histogram and an improving RSI above 30, overhead resistance sits at 1,623-1,638 with support established at 1,578-1,593. – Oct 23, 2026
