Market Pulse - 26Jul23 - Bullish momentum accelerates

The recovery trend on the local bourse remained un-interrupted for the fourth straight session after China pledged to step up policy support for the economy following a series of disappointing economic data as of late. The lower liners also advanced as traders continued to capitalise onto the positive market sentiment. Going forward, we expect rotational play to buoy the extended upward momentum, while keeping a close tab onto the upcoming US Federal Reserve Interest Rate decision. Overall, the market participants are pricing in another 25 basis points of rate hike, and the consensus is pointing towards a potential pause in the subsequent meetings ahead. 

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