Market Pulse - 10Jul23 - Downward pressure uneased

The FBM KLCI were beset by another round of selling activities after lingering mostly in the negative territory for most of the trading session, whilst foreign funds stepped up in their net selling position. For now, investors will be watching the impending release of Malaysia’s unemployment rate. The lower liners may undergo a consolidation after delivering a solid performance last week. While the recovery is still in place, we expect the upside may be limited amid quick profit taking activities. Meanwhile, we reckon that the focus will shift towards the upcoming barrage of corporate earnings in the US. 

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