Market Pulse - 16Jun23 - Minor Setback

The FBM KLCI slid on the back of profit taking activities as the US Fed’s hawkish signal sparked worries over 2 more potential rate hikes in 2023. Nevertheless, we believe the overall sentiment has turned more optimistic given the rally in the technology giants in the US as well as the recent rate cut in China, which may boost more economic activities going forward.

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