BELOW are excerpts of viewpoints from two selected research houses on what investors can expect in the day ahead:
Berjaya Research
The FBM KLCI edged higher following a choppy trading session, underpinned by buying support from foreign funds as the benchmark index bucked the mostly negative regional market trend.
Trading volume, however, eased to 2.6 billion shares while market breadth remained negative, reflecting continued weakness among the lower liners.
The FBM KLCI is expected to remain cautious and range-bound in the near term as investors monitor outcome of the mid-term US presidential election which could influence global market sentiment, currency movements and foreign fund flows.
Market volatility may persist amid uncertainty over the incoming administration’s policy direction, particularly on trade, tariffs and international relations.
Meanwhile, the lack of broad-based participation and persistent weakness among lower liners may limit further upside.
Investors are likely to stay selective and adopt a wait-and-see stance pending greater clarity on the election outcome and its potential implications for global markets.
Continued foreign buying interest which recorded six consecutive net buying could provide support to the benchmark index which has breached above the 1,620 resistance points.
The immediate resistances are shifted to 1,630-1,650 points. Meanwhile the immediate supports are pegged at 1,600 points, followed by 1,592 points.
Malacca Securities Research
The FBM KLCI may remain resilient with renewable energy investments and cybersecurity demand offering stock-specific opportunities.
Tenaga Nasional Bhd and IOI Corp Bhd are in focus following their joint venture (JV) with a consortium of 12 SMEs to develop a 500MWac solar farm and 250MW/1,000MWh battery storage system in Bahau under CRESS (Corporate Renewable Energy Supply Scheme).
Tenaga and IOI Corp hold 70% and 25% stakes respectively with total JV equity commitments of up to RM606.2 mil.
Pekat Group Bhd may attract greater institutional interest following regulatory approval for its Main Market transfer.
Meanwhile, LGMS Bhd warrants attention as recent cyberattacks highlight operational technology vulnerabilities, potentially supporting demand for its cybersecurity solutions, subject to commercial uptake.
The local bourse closed higher on Tuesday, extending its technical rebound despite regional headwinds.
The MACD histogram remained positive while the RSI climbed comfortably above 40 and approaching the 50 level. Immediate resistance is seen at 1,637-1,652 with support established at 1,592-1,607. – Nov 4, 2026
