KLCI Slips to 1,630, Bargain Hunting Seen

KUALA LUMPUR, Oct 2, 2026, The FBM KLCI fell to 1,630.36 on Thursday as broad-based selling persisted, extending the recent correction that has pushed the index into oversold territory. Decliners substantially outnumbered gainers, reflecting continued foreign selling pressure and fragile sentiment.

Analysts noted that while the weakness may encourage bargain hunting, any rebound is likely to remain modest without stronger participation from heavyweight stocks and an improvement in market breadth. The decline has created opportunities to selectively accumulate fundamentally sound counters, particularly among established banks, utilities, and semiconductor names.

Bargain Hunting

Technical indicators show the index testing the lower boundary of its descending trend channel, with immediate support at 1,625. A sustained recovery would require a move back above 1,640–1,645, supported by improved liquidity and institutional buying.

For today, cautious trading is expected within the 1,625–1,640 range, with investors closely monitoring external cues from US yields and oil price movements.

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