KLCI Stabilises Above 1,640 Ahead of US Payrolls

KUALA LUMPUR, Sept 30, 2026, The FBM KLCI rebounded 0.44% to 1,651.17 on Wednesday, snapping a five-session losing streak as bargain hunting in utility heavyweights lifted the index. Softer oil prices provided some relief, though market breadth remained negative with 703 decliners against 413 advancers.

Construction (+2.07%), Utilities (+0.62%) and Property (+0.38%) led gains, while Energy (-2.65%), Telecommunications & Media (-0.72%) and Technology (-0.57%) were the top laggards. Analysts noted that despite the rebound, sentiment remains fragile as US bond yields continue to climb, capping risk appetite.

KLCI Stabilises

Technically, the KLCI held above the lower boundary of its descending trend channel around 1,640, showing early signs of stabilisation. Immediate support remains at 1,640, with resistance at 1,660–1,685. A sustained move above 1,660 would signal improving momentum, while a break below 1,640 could expose the next support at 1,625.

Investors are expected to trade cautiously ahead of Friday’s US non-farm payrolls, with a more sustained recovery hinging on easing US yields and progress in US-Iran talks. Utilities may remain in focus given resilient demand and defensive earnings visibility, while Technology awaits cues from US chip earnings.

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