BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
After trading largely within a range-bound pattern, the FBM KLCI extended its pullback to close marginally lower on Friday with the key index consequently registered a 0.2% week-on-week decline.
Similarly, the broader market softened as reflected by the markedly negative market breadth with 821 decliners outweighing 392 advancers. This suggests extended profit-taking and prevailing cautious sentiment.
Looking ahead, market sentiment is expected to remain cautious as investors weigh the recent pullback on the FBM KLCI against persistent external uncertainties and the absence of strong domestic catalysts.
Nevertheless, the rebound on Wall Street may offer some cushion against further downside pressure, helping to stabilise sentiment in the near term.
Still, investors are likely to stay selective while awaiting clearer signals from global macro developments and the on-going corporate reporting season.
The downside bias trading pattern is likely to prolong with the key support levels pegged at 1,613-1,607 points, followed by the 1,600 psychological level. On the other hand, the resistances are located at 1,625-1,630 points, followed by 1,637 points.
Malacca Securities Research
Tracking the rebound in the US last Friday, we anticipate that the FBM KLCI will kickstart the week on a moderately positive tone.
Meanwhile, we continue to favour recovery signals seen in the construction sector given the stable order book visibility led by data centre projects and mega infrastructure developments in the country that benefit construction players like Gamuda Bhd and Sunway Construction Group Bhd.
Lastly, we remain optimistic toward Eco World Development Group Bhd following its outstanding 3Q FY2025 performance with RM3.8 bil in sales achieved in its 10M FY2025 which exceeded its FY2025 full-year sales target of RM3.5 bil
The FBM KLCI index closed in negative territory. The technical indicators are showing a sell signal; the MACD histogram is hovering in negative territory while the RSI is below 50, indicating downward momentum.
Resistance is anticipated around 1,632-1,637 while support is located at 1,597-1,602. – Nov 24, 2025
