Market Pulse - 14Jun23 - Minor Setback

The FBM KLCI reversed its previous session gains as investors took profit prior to the release of US consumer price index (CPI) data, bucking the positive performances across most of the regional markets. Following the release of cooling inflation data at 4.0% YoY in the US, investors may turn optimistic in expectation over a pause in US interest rate hikes by the Fed and remain less hawkish for the rest of 2023. Also, China’s recent broad stimulus measure may provide support towards the stock markets.

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