BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Inter-Pacific Research
It was another selling day on Bursa Malaysia with the FBM KLCI losing further ground amid the continuing weak market sentiments that left few fresh buying impetuses for investors to follow.
As a result, the key index closed below the 1,530 level again with Sime Darby Bhd emerging as the biggest loser on below expectation results.
The broader market was also in a dour mode with most of the lower liner indices also ending the session lower.
Expectedly, market breadth was negative with traded volumes continuing to thin to just 2.66 billion shares.
The spate of corporate results reported thus far has failed to inspire market players, hence the downside bias is likely to persist on the FBM KLCI.
As it is, the results have been lacklustre for the most part and this is sending more market players to the sidelines again.
In particular, foreign investors have emerged as net sellers again and their incessant selling could leave market conditions dour for the time being.
Leads from abroad are also lacking with on-going concerns over the tariffs continuing to affect overall sentiments.
With the downside bias still in force, the key index could lose further ground with the 1,518-1,520 levels emerging as its next support where it could attempt to find some support, followed by the 1,515 level.
The resistances, meanwhile, are at 1,535 points and 1,541 points respectively.
Malacca Securities Research
Following the overnight positive sentiment on Wall Street, we believe the local bourse will trade higher today.
With today being the he last day of the ASEAN Summit, we believe sectors like banking, tourism, digital economy and logistics could be direct beneficiaries as the bloc called for increased regional trade and freer movement of businesses and people.
Besides, Sarawak construction and building materials-related counters like Cahya Mata Sarawak Bhd and Hartanah Kenyalang Bhd (upcoming IPO) are on our radar following the state’s aggressive infrastructure development.
Lastly, traders can observe Oriental Kopi Holdings Bhd for potential trading opportunities after a flag breakout.
The key index continued to hover below the MA (moving average) lines with technical indicators showing negative momentum at the current juncture; the MACD histogram is expanding negatively while the RSI continued to hook below 50.
Resistance is anticipated around 1,541–1,546 while support is located at 1,506–1,511. – May 28, 2025
