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 all its intraday gains as profit taking activities remain unabated due to mounting uncertainties over global interest rates which was further bogged down by the US tech sell-off overnight.
The broader market, however, closed mixed despite the weak market breadth with 604 decliners edging 460 advancers.
Trading activities also simmered with only 2.59 billion shares transacted against 3.25 billion shares recorded in the previous session due to the cautious market undertone.
Looking ahead, the FBM KLCI is likely to remain under near-term pressure as persistent profit-taking and lingering uncertainties over the global interest rate outlook continue to weigh on investor sentiment.
Market participants are also expected to stay cautious ahead of the European Central Bank’s (ECB) interest rate decision later in the evening which could influence global bond yields and risk investor sentiment.
With market breadth remaining weak and trading activity moderating, the index may continue to trade defensively with a bias towards consolidation or mild downside as investors remain selective in their positioning.
A consolidation pattern could emerge with the immediate resistances remain located at 1,755 points and 1,770 points respectively. Meanwhile, the immediate support is at 1,733 points, followed by the 1,720 points.
Malacca Securities Research
We expect the local bourse to track the prevailing sentiment on Wall Street. Despite this, we believe selected technology segments, particularly wafer fabrication equipment (WFE) and automated test equipment (ATE), may be supported.
These segments are direct beneficiaries of global chipmakers’ prospects with on-going capex expected to remain elevated this year coupled with the constrained supply of high-bandwidth memory (HBM).
Besides, we observe that poultry stocks are gaining traction on the back of a stronger ringgit despite the removal of government subsidies.
The local bourse closed lower on Wednesday. Technical indicators suggest the momentum has turned negative at this juncture as the MACD histogram has tilted into the negative territory while the RSI remains below the 70 level.
Resistance is seen around 1,757-1,762 with support at 1,722-1,727. – Feb 5, 2026
