BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI halted a five-day losing streak, lifted by bargain hunting activities across selected index heavyweights on Tuesday.
Trading activity, however, moderated with total volume easing to 3.32 billion shares from 3.90 billion shares in the previous session as overall buying conviction remained tepid amid lingering concerns over heightened market volatility.
Market breadth remained negative with 608 decliners nudging 564 advancers, highlighting the uneven recovery and persistent cautious sentiment.
Going forward, the FBM KLCI may adopt a cautiously positive bias stance, potentially looking to extend yesterday’s rebound as bargain hunting interest gradually returns to selected heavyweights.
While near-term sentiment appears to be stabilising, gains could remain measured amid the absence of strong fresh catalysts while on-going political uncertainties in the Middle East remain unabated and could continue to weigh onto sentiment.
For today, investors will closely monitor the upcoming China PMI data alongside the US ISM Services PMI to gauge the resilience of the world’s largest economy.
Technically, the FBM KLCI has gapped up and continues to defend the 1,700 psychological level.
With the potential build-up in bargain hunting, the immediate resistance has now shifted to 1,720 points, followed by 1,735 points. Downside wise, the 1,700 psychological level will act as the immediate support, followed by 1,685 points.
Malacca Securities Research
Upstream O&G (oil & gas) players like Hibiscus Petroleum Bhd and Bumi Armada Bhd may stand to benefit, underpinned by the recent spike in crude oil prices.
A spill-over effect on Velesto Energy Bhd may re-emerge as well following its recent project wins.
Meanwhile, bargain-hunting in the pawnshop sector could re-surface alongside elevated gold prices, potentially improving pledge redemption rates and boosting margins.
In view of the VIX spike, buying interest may appear in the banking sector, particularly CIMB Group Holdings Bhd, given its robust dividend yields among large-cap stocks by offering a hedge against near-term volatility.
The FBM KLCI closed on a firmer footing. However, technical indicators suggest momentum remains weak with the MACD histogram still in the negative region and the RSI hovering below 50.
Resistance is seen around 1,726-1,731 with support at 1,691-1,696. – March 4, 2026
