BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The key index ended its downward streak yesterday to re-claim the 1,620 level at the close.
The gains also bucked the mostly weaker regional market performances with mild bargain hunting on some of the beaten down key index constituents.
However, the broader market was mixed, resulting in total losers still ahead of gaining stocks. Traded volumes continue to rise with some 4.6 billion shares exchanging hands.
Yesterday’s recovery is welcomed to break the dour trend that has engulfed the key index as well as keeping it above the psychological 1,600 level.
Despite the rebound, we see market conditions as still unsettled and could endure further consternation due to lingering uncertainties over the direction of US interest rates and overpriced equity valuations.
Nevertheless, with near-term equity market conditions on the mend, the key index could extend its recovery into a second day with mild bouts of bargain hunting continuing.
The firmer overnight performance on Wall Street should provide some more buying impetus to the key index. Technically, the hurdles are at 1,627 points and 1,631 points respectively while the supports remain at 1,615 points and 1,600 points.
Malacca Securities Research
Following Nvidia’s strong earnings, we expect the FBM KLCI to continue its recovery with optimism likely to emerge in the technology sector, thus benefitting companies like Frontken Corp Bhd and Inari Amertron Bhd.
Meanwhile, buying interest has also re-emerged in the construction sector with bargain-hunting activities seen across Gamuda Bhd and Sunway Construction Group Bhd.
We believe this is justifiable given their discounted valuations and strong earnings visibility, underpinned by various mega infrastructure projects and data centre investments in the country.
Lastly, investors can also look into Topmix Bhd which posted strong 3Q FY2025 results and is currently expanding its central region warehouse.
The FBM KLCI index closed in positive territory. The technical indicators are showing a mixed signal; the MACD histogram is hovering in negative territory while the RSI is above 50, indicating upward momentum.
Resistance is anticipated around 1,638-1,643 while support is located at 1,603-1,608. – Nov 20, 2025
