Market Pulse - 19Jun23 - Driven By FTSE Rebalancing

The FBM KLCI notched higher amid the FTSE rebalancing activities as well as optimism increased within the local and regional markets following a pause in US rate hike campaign. Whilst bargain hunting activities are likely to emerge, the local bourse may see upside to be capped for now with the investors keeping an eye on Malaysia’s inflation reading due this week. Meanwhile, we deem the decline on Wall Street as a healthy pullback following its recent gains.

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