Market Pulse - 24May23 - Downward Pressure Uneased

The FBM KLCI slid deeper into the red in the afternoon session as investors watched the progress of the US debt ceiling talk. We believe investors may remain jittery as the debt ceiling discussions appeared to yield little progress. Do note that Janet Yellen commented that the “hard deadline” for raising the debt ceiling will be on 1st of June. Meanwhile, investors may focus on fundamentally solid companies amid the earnings season on the local bourse.

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