Market Pulse - 6Jul23 - All eyes on Bank Negara OPR decision

The FBM KLCI took another step back amid the absence of fresh leads as Wall Street was closed. Despite the key index’s rebound momentum appearing to be having a pause, the lower liners trended higher on the back of the extended rotational play following the better market sentiment. However, with the US Federal Reserve skewing towards a more hawkish narrative, investors will now keep a close tab on Bank Negara’s overnight policy rate decision today. Given that inflationary pressures remain sticky and domestic economic growth is on track, we believe that the door for further rate hikes will remain open for most of the Central Banks. 

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