Market Pulse - 6Jun23 - Negative Momentum Persisted

The FBM KLCI remained bearish as investors selling pressure in banking and selected consumer heavyweights, while investors piled into small and mid-cap stocks. We deem the pullback on Wall Street overnight as a healthy consolidation, while the local bourse may track regional markets’ uptrend move and bargain hunting activities may emerge. Investors may monitor Japan’s and Eurozone’s GDP, as well as China’s inflation rate to gauge the aggressiveness of global interest rate hikes.

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