BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI trended lower for the third straight session on Wednesday, dragged down by the selling pressure across selected index heavyweights in the final minutes of the trading session.
Trading activity moderated with 2.52 billion shares changing hands from 2.91 billion shares in the preceding session.
Market breadth remained positive with 526 advancers against 449 decliners, implying buying momentum skewing towards the lower liners.
The FBM KLCI could continue trading on a downward bias manner over the near term as investors remain cautious amid the lack of strong domestic catalysts and uncertainty over the global macroeconomic backdrop after US Federal Reserve chairman Kevin Warsh dodged questions on future interest rates direction.
Market sentiment is likely to be driven by upcoming US non-farm payrolls and unemployment rate data which could provide fresh clues on the strength of the US labour market and shape expectations for the US Fed’s policy path.
As such, investors will continue to adopt the wait-and-see approach for greater clarity on the global interest rate outlook and external trade developments.
Technically, the key index has formed a bearish candlestick to extend its pullback trend. Near-term supports are now shifted to 1,647 points and 1,638 points respectively. Meanwhile, the immediate resistances are pegged at 1,674-1,684 points.
Malacca Securities Research
Driven by a weaker ringgit environment and the on-going semiconductor and AI (artificial intelligence) supercycle, we expect sentiment to remain highly constructive for semiconductor counters, thus benefitting Frontken Corp Bhd, Inari Amertron Bhd and THMY Holdings Bhd.
Meanwhile, YTL Power International Bhd’s breakout with strong volume validate the on-going strength of the domestic AI theme, supported by YTL’s Green Data Centre Park in Johor, YTL AI Labs and the ILMU Claw project.
Also, Vertiv’s official Johor plant opening and South Korea’s US$1.2 tril AI supply pledge act as additional catalysts for the broader technology ecosystem.
Investors could monitor 99 Speed Mart Retail Holdings Bhd following recent accumulations by the Employees Provident Fund (EPF).
The FBM KLCI slipped further with its technical indicators still showing weak momentum at this current juncture as the MACD histogram is trading at the negative region while the RSI is hovering below 50.
Resistance is seen around 1,671-1,676 with support at 1,636-1,641. – July 2, 2026
