Malaysia Market Focus - KLCI Eyes Gains on Tech

KUALA LUMPUR, Aug 28, 2026 — The FBM KLCI slipped 0.39% to 1,741.72 on Thursday as profit-taking in selected heavyweights weighed on the benchmark amid the ongoing corporate earnings season. Market breadth, however, remained slightly positive, with 612 advancers against 596 decliners. Construction (+1.29%), Energy (+1.28%) and Technology (+1.20%) led sectoral gains, while Transportation & Logistics (-0.90%), Plantation (-0.86%) and Consumer Products & Services (-0.63%) were the main laggards.

Tech gains

Looking ahead, analysts expect the FBM KLCI to trade higher today, supported by pre-Merdeka buying interest ahead of National Day celebrations. Investors are likely to remain selective, focusing on corporate earnings and company-specific developments. Technology counters could continue to attract attention following Nvidia’s strong global results, while plantation stocks may benefit from firmer crude palm oil prices.

Technically, the index remains below the 1,750–1,760 resistance zone but is holding above its 9- and 20-day moving averages. A breakout above 1,755 would strengthen bullish momentum towards 1,770–1,775, while immediate support lies at 1,720. Overall, sentiment remains positive, with near-term bias tilted higher.

Brief (20 words): KLCI seen higher on tech momentum and Merdeka optimism, with selective buying expected amid earnings season and firmer plantation prices.

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