Market Pulse - 23May23 - Sentiment Turned Jittery

The FBM KLCI closed lower as the market sentiment was affected by the political developments ahead of the state elections. Meanwhile, Wall Street ended on a mixed note amid the ongoing debt ceiling negotiations. However, with the resumption of debt ceiling talks in the US, we expect the market sentiment to improve at least for the near term. Also, the FBM KLCI rebalancing activities will be commencing soon and may impact the volatility of the heavyweights.

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