BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI pulled back yesterday, affected by weak market sentiments on lingering external uncertainties from the lofty global equity market valuations as well as the US Federal Reserve’s apprehension in reducing interest rates further.
The incessant selling also saw in the key index ending at its day’s low while rampant selling was seen among the lower liners, resulting in losers overwhelming gainers by a 3-to-1 ratio.
The escalating selling activity also saw the day’s traded volume jumping past 4 billion shares from 2.8 billion shares a day earlier.
We continue to see near-term market sentiments remaining dour with the external uncertainties to dictate the FBM KLCI’s direction.
As it is, heightened concerns over the expensive global technology stock valuations will continue to weigh on the market and could prompt further selling into strength with market players also retreating to the sidelines due to lack of domestic buying catalysts.
The on-going corporate results reporting season is reaching its peak but many market players are opting for the sidelines until the market direction becomes clearer.
Meanwhile, technical reading remains morbid with the near-term downtrend still the dominant feature with further downsides in the offing.
With the 1,615-point support level giving way, the ensuing supports are at 1,608 points and the psychological 1,600 level. The hurdles, meanwhile, are at 1,618-1,20 levels, followed by 1,625 points.
Malacca Securities Research
Following Wall Street’s negative overnight performance, we expect the FBM KLCI to trade on a weaker note, pending the release of Nvidia’s results.
However, we continue to favour MI Technovation Bhd which is supported by its strong 3Q FY2025 earnings and growing exposure to high-growth semiconductor segments like advanced packaging, HPC (high-performance computing) and automotive power modules.
Meanwhile, following the gap-up move by Sarawak Oil Palm Bhd (SOP), we think traders may also consider Johor Plantations Group Bhd which is also approaching a potential breakout zone with sustained buying interests in the plantation sector following a rebound in CPO (crude palm oil) prices.
Lastly, investors can look into the IPO (initial public offering) of Foodie Media Bhd (M+ target price: 47 sen) as applications are closing today.
The FBM KLCI index closed in negative territory with technical indicators indicating weaker momentum; the MACD histogram is turning toward negative territory while the RSI is below 50, indicating weaking upward momentum.
Resistance is anticipated around 1,629-1,634 while support is located at 1,594-1,599. – Nov 19, 2025
