The market is expected to resume trading with a cautious but mildly positive bias following Tuesday’s public holiday, supported by resilient domestic fundamentals.
However, investors are likely to remain selective as the earnings season continues. Corporate results, earnings outlooks and company-specific developments are expected to drive individual stock performance and determine market direction.
From a technical perspective, the FBM KLCI has regained some near-term momentum, remaining above its 9- and 20-day moving averages and holding above the key 1,720 level.
Nevertheless, the index remains within a broader downward channel, with resistance at the 1,750-1,760 zone continuing to limit further gains.
FBM KLCI
A decisive break above 1,760 would strengthen the recovery outlook, while a failure to hold 1,720 could expose the index to a pullback towards 1,700 and subsequently 1,680.
Overall, near-term sentiment has improved slightly, although the broader market trend remains cautious.
The FBM KLCI ended marginally lower on Monday, slipping 0.01% to 1,736.33 as investors remained cautious amid weaker regional sentiment and subdued trading activity.
The ongoing corporate earnings season, coupled with the holiday-shortened trading week, kept market participation relatively muted. Market breadth remained negative, with 714 decliners against 482 advancers, while 539 counters were unchanged.
Sector performance was mixed. Plantation stocks led the gainers, rising 0.74%, followed by Transportation & Logistics, which advanced 0.91%, and Telecommunications & Media, up 0.63%.
Utilities was the biggest laggard, falling 1.71%, while Technology declined 1.43% and Property slipped 0.52%.
