Market Pulse - 3Jul23 - Impacted by 1H23 rebalancing

The FBM KLCI traded mostly in the red, dragged down by selling pressure in banking heavyweights following the mid-year institutional rebalancing. We reckon a rebound may take shape, taking cue from bargain hunting activities from the previous session pullback, while the calmer market sentiment on Wall Street may also lend strength to the local markets. Still, we remain cautious over the impending releases of manufacturing data to gauge the strength of the economy. 

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