Market Pulse - 30May23 - Recovery in progress

The FBM KLCI closed with minor gains as bargain hunting activities emerged amid easing worries following the tentative deal formed over US debt ceiling. Investors may see further relief in the market in anticipation of the lifting of US debt ceiling this weekend. Meanwhile, higher-than-expected US consumer spending which suggested the economy remains resilient has kept the Brent crude oil price on a recovery move, hovering above USD77 per barrel. Meanwhile, the CPO price hovered above RM3,500. 

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