Latest news with #MalaccaSecuritiesResearch
The Star
3 days ago
- Business
- The Star
FBM KLCI expected to move sideways pending clarity over US tariff plans
KUALA LUMPUR: Much like the in the previous session, the FBM KLCI looked set to be range-bound and sluggish as investors awaited fresh catalysts to guide trading direction. The benchmark index made a slightly softer opening on Tuesday, down 1.45 points to 1,536.06. According to TA Securities, stock prices should continue trading sideays pending greater clarity over the Trump administration's tariff plans with major trading partners. "Immediate index support stays at 1,490, with stronger supports found at 1,465 followed by 1,444. Immediate resistance is kept at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead," it said in a market commentary. Malacca Securities Research said there may be a greater demand for security screening machines given the ongoing trade war driving tigher inspection protocols and regulatory compliance. It said Wentel Engineering was a proxy to ride the trend. For its defensive pick, the research firm said 99 Speed Mart will benefit from downtrading as inflationary pressure picks up, coupled with the increase in EPF's stakes. "Also, the long-term outlook for the solar industry remains favourable, supported by the NETR and the recent electricity tariff hike," it added. Most active counters in early trade were NexG flat at 47 sen, Elridge up one sen to 64.5 sen and TWL unchanged at 2.5 sen.
The Star
26-06-2025
- Business
- The Star
Blue chips creep higher as investor stay cautious over Middle East ceasefire
KUALA LUMPUR: There remains a cautious undertone on the domestic market as investors are monitoring closely the ceasefire between Iran and Isreal, although blue chips have slowly crept up on growing optimism. Following a mixed performance on Wall Street, the FBM KLCI rose 0.45 points to 1,520.24, a marginal increase that remained capped by the overhead 50-day moving average. Rakuten Trade said the recent rally on the FBM KLCI could be owing to stock accumulation by local institutions, while it as observed some trickling in of foreign funds. "Nonetheless, we prefer to stay cautious as developments in the middle east remained fluid hence expect the index to trend within the 1,515-1,525 range today," it said in its review. From a technical standpoint, Malacca Securities Research said the FBM KLCI formed a bullish engulfing candle on Monday, which has led to buying interest in the blue chips. It said the local bourse is currently trading at a price-earnings multiple of 14X against a five-year average of 16.5X. "Despite the positive closing, the key index is still trading below EMA60, with technical indicators showing bullish signals; MACD histogram is expanded above zero, while the RSI is trading above 50. "Resistance is anticipated around 1,534–1,539, while support is located at 1,499–1,504," it said in its outlook. On the broader market, the most active stocks were SNS Network down two sen to 54 sen, Reservoir Link dropping two sen to 20.5 sen and Solution up one sen to 11 sen.
