Market Pulse - 31May23 - Dipping Below 1,400

The FBM KLCI drifted below the key 1,400 level as investors took profit ahead of the passing of US debt ceiling deal. Whilst global sentiment remained mixed, we believe bargain hunting activities may emerge on the local front in undervalued stocks. Meanwhile, the renewable energy theme may come into investors’ focus as the government target to roll out its Energy Transition Roadmap, as well as to reveal the renewable energy export guidelines in June.

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