BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
Driven by gains across selected telco and banking heavyweights, the FBM KLCI started off the week on a solid footing on Monday.
Trading activity, however, remained subdued with total market volume easing to 2.87 billion shares from 3.04 billion shares in the previous session.
Market breadth was fairly even with 531 advancers against 547 decliners, suggesting that the rebound was largely concentrated in selected index-linked heavyweights.
Going forward, the FBM KLCI is expected to build on yesterday’s recovery, underpinned by sustained buying interest in index heavyweights amid improving global risk appetite.
Markets are struggling to digest the situation over in the Middle East, prompting a more cautious risk appetite across global markets.
Also, investors will remain focus on the on-going US corporate earnings releases, key economic data and developments surrounding global trade developments while bargain hunting in fundamentally sound blue-chip counters may continue to lend support to the local benchmark.
Technically, the key index managed to defend the 1,700 psychological level and could attempt to extend its rebound.
The immediate resistance remains located at 1,720 points, followed by 1,735 points. Meanwhile, near-term supports are pegged at 1,686 points and 1,676 points respectively.
Malacca Securities Research
The FBM KLCI could rebound further despite Wall Street’s mixed overnight performance.
Near-term domestic sentiment will be supported as funds re-evaluate the local tech sector, driven by testing and solutions providers moving up the value chain.
SNS Network Technology Bhd continues its rally following a record RM1.22 bil AI (artificial intelligence) server win while Aemulus Holdings Bhd gains traction after securing RM15.11 mil in South Korean orders for AI test systems.
Meanwhile, the upcoming Negeri Sembilan state election and the return of Formula 1 to Sepang in October which are taking centre stage are likely to bode well for tourist inflows and retail spending, translating into earnings for consumer players such as 99 Speed Mart Retail Holdings Bhd, Spritzer Bhd and Farm Fresh Bhd.
The FBM KLCI rebounded following easing of the Brent oil prices with the MACD histogram performing a rounding bottom formation while the RSI stayed above the 50 level.
Near-term resistance sits at 1,728-1,743 with the support level anchored at 1,683-1,698. – July 28, 2026
