Market Pulse - 27Oct23 - Selling pressure persisted

Sector focus: Given the weaker trading tone abroad, we believe it may exert pressure within the Technology sector. Meanwhile, we think the USD strengthening against the Malaysian ringgit will provide upside potential for the export-related segment, where gloves, and furniture stocks may benefit in the near term. We reckon stocks with defensive characteristics within the Telco and Utilities sectors, coupled with solid net cash position and stable dividend payout will be decent for long term investors to accumulate. 

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