BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Inter-Pacific Research
There were more gainers on Bursa Malaysia yesterday with stocks extending their gains amid the calmer market environment and the return of foreign funds as they remain net buyers for the day.
The FBM KLCI’s gains were also firmer as bargain hunting escalated among the beaten down key index constituents.
Although the broader market was also higher, they were more modest as traded volumes thinned to just 2.62 billion shares. Nevertheless, market breadth stayed positive for the day.
Amid the continuing influx of foreign funds, the FBM KLCI is likely to continue heading higher over the near-term, casting aside the lingering concerns over the state of global economy that is likely to slow ahead due to the prevailing tariffs.
At the same time, global equity markets are also more stable, thus enabling Malaysian stocks to head higher while prolonging the on-going recovery among Bursa Malaysia stocks.
Notwithstanding the prospects of further upsides, near-term gains could become more reserved as many stocks have already recouped a substantial portion of their tariff-induced losses.
Mild bouts of profit taking may also emerge that could slow further gains ahead. On the upside, the hurdles are at 1,526 points and 1,531 points respectively. The supports, meanwhile, are at 1,517 points and at 1,511 points respectively.
Malacca Securities Research
Given the rising incidents of cyber threats, we remain positive on cybersecurity stocks like LGMS Bhd and Cloudpoint Technology Bhd.
This is given we believe market participants will realise the importance of cybersecurity as global digitalisation effort accelerates and as we expect software-related stocks to be less impacted by the reciprocal trade tariffs.
Besides, traders could focus on selected construction, oil & gas (O&G), technology, utility and glove stocks for the session as well as WTEC Group Bhd (target price: 56 sen) which will be listed on the ACE Market today (April 29).
After breaking above EMA20, the key index is currently testing the EMA60 with technical indicators showing signs of recovery. The MACD histogram is trading at its positive territory while the RSI is trending above 50.
Resistance is anticipated around 1,536-1,541 while support is located at 1,501-1,506 – April 29, 2025
