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 most of its previous session gains with two thirds of the key index components finishing in the red on Wednesday amid concerns that the Strait of Hormuz may remain closed for longer-than-expected.
Trading activity eased to 3.64 billion shares from 3.85 billion shares in the previous session. Market breadth also turned negative with 617 decliners overtaking 485 advancers as investors turned risk-averse amid heightened geopolitical uncertainties.
Going forward, the FBM KLCI may continue to trade on a cautious tone as heightened geopolitical concerns and persistent profit-taking activities weigh on overall market sentiment.
Although the US Federal Reserve kept interest rates unchanged which may provide some stability to global liquidity conditions, risk appetite could remain fragile amid lingering uncertainties surrounding global trade routes and energy supply disruptions.
Investors are also likely to stay defensive ahead of key economic releases, particularly China’s manufacturing data and the advance reading of US 1Q 2026 GDP (gross domestic product) data.
Technically, the key index has formed a bearish engulfing candlestick, signalling for a potential pullback. The immediate support is located at 1,710 points, followed by the 1,700 psychological level.
On the upside, near-term resistances are envisaged at 1,732-1,740 points.
Malacca Securities Research
Tracking the sell-off in the US, we expect the FBM KLCI to end the week softer.
In the current elevated oil price environment, sentiment is expected to bode well for energy and chemicals-related counters, including Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd and PETRONAS Chemicals Group Bhd.
Traders could also take positions in LSH Capital Bhd and ITMAX System Bhd following their recent breakouts; the latter recently secured an order for 2,000 AI-driven surveillance units from the Johor Bahru City Council (MBJB) and has indicated its intention to participate in Kota Kinabalu’s CCTV tenders.
On a defensive front, investors might consider IGB REIT and IGB Commercial REIT following their stellar 1Q 2026 results.
The FBM KLCI retreated marginally but its technical indicators are showing positive signals at this current juncture as the MACD histogram is trading in a positive territory while the RSI is also trading above 50.
Resistance is seen around 1,735-1,740 with support at 1,700-1,705. – April 30, 2026
