BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI inched higher on Thursday, lifted by the second half buying momentum across selected index heavyweights.
Trading activity, however, fell to 2.92 billion shares from 3.64 billiob shares in the previous session as investors retreated to the sidelines ahead of the extended weekend break.
Market breadth stayed negative with 816 decliners trouncing 360 advancers amid persistent concerns over the geopolitical developments in the Middle East.
Going forward, the FBM KLCI is poised to extend its recovery in the near term, supported by the positive spillover from Wall Street’s resilient corporate earnings season and expectations of stable domestic earnings later this month.
While geopolitical tensions in the Middle East and elevated oil prices continue to inject volatility, Malaysia’s position as a net energy exporter provides a buffer against external shocks.
The benchmark index has demonstrated resilience, gaining 1.9% month-on-month in April despite choppy trading conditions.
Investors will be closely watching Malaysia’s manufacturing PMI data slated for release later today for fresh signals on the health of the industrial sector and broader economic momentum.
Technically, the key index has formed a hammer candlestick, signalling a potential rebound over the near term.
The immediate resistance is envisaged at 1,732-1,740 points. Meanwhile, the support is located at 1,710 points, followed by the 1,700 psychological level.
Malacca Securities Research
Tracking the robust Mag-7 (Magnificent Seven) results in the US, we expect the FBM KLCI to start the week on a stronger footing.
We particularly favour UWC Bhd as it acts as a proxy for Lam Research and Intel; a further pullback towards the EMA20 could present a strategic entry opportunity.
We also favour Kee Ming Group Bhd given its share price recovery driven by Tenaga Nasional Bhd’s RP4 capex initiatives and the data centre boom, both of which necessitate increased underground utility cabling.
With the persistent conflict in the Middle East, this should continue to favour PETRONAS Chemicals Group Bhd and the glove counters.
The FBM KLCI rebounded marginally with technical indicators showing positive signals at this current juncture as the MACD histogram is trading at its positive territory while the RSI is also trading above 50.
Resistance is seen around 1,737-1,742 with support at 1,702-1,707. – May 4, 2026
