Market Pulse - 13Jun23 - Sentiment Turning Favourable

The FBM KLCI rallied along with the regional markets amidst the inflow of foreign funds as bargain hunting activities emerged within the banking heavyweights. We believe the investors may look out for the US CPI data as well as the FOMC meeting later this week. With the consensus expecting a declining CPI, the Fed may keep the interest rate unchanged at 5.00-5.25% for now, there should be upside potential to the stock markets. However, the upside on the FBM KLCI could be capped by the sentiment of the upcoming 6 states election.

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