The FBM KLCI fell for another session as it struggled to find its footing amid broadbased selldown prior to the US CPI data. However, given the Wall Street rebounded strongly from its intraday low following the US CPI print, we believe the short-term bargain hunting activities may emerge on the local bourse and regional markets. Nevertheless, as we think the inflation remains high and still far from the 2% inflation target of the Fed, we opine that the rebound will be short-lived. Global investors should remain wary in anticipation of further interest rate hikes in the US.

The FBM KLCI remained lacklustre as the key index marked its fourth-session decline while the investors were looking around for fresh catalyst. As the final-hour selldown on Wall Street implied persisted concerns over the monthly US CPI data, we believe the global market may remain volatile in the near term. Meanwhile, on the local front, we believe traders are shifting their stance from growth to value stocks and we may expect some rebound in undervalued stocks with solid fundamentals.

The FBM KLCI closed near the 52-week low, taking cue from the negative regional markets on the back of persisted worries over impact of ongoing rate hikes as well as the dissolution of parliament effective on 10th of October. As the global investors remained cautious ahead of the US inflation data on the 13th of October, we reckon the local bourse will likely to stay negative bias at this juncture without any fresh catalysts.

Another wave of selling pressure hit the FBM KLCI on Friday as investors mulled over the Budget 2023 and bearish sentiment on the regional markets. We believe all eyes will turn to the upcoming GE15 following the dissolution of parliament announced yesterday. The broad market may trade lower given the uncertainties ahead of the GE15, while foreign investors may extend its selling activities since last week.

The FBM KLCI booked marginal losses as investors took profit in the final hour. Meanwhile, the Wall Street has reversed its course after a few days of rebound. Given the selldown on Wall Street, we expect the market may remain volatile in the global scene, while investors on the local front may trade cautiously ahead of the tabling of Budget 2023.

The FBM KLCI climbed for the third consecutive session, taking positive cue from the global markets as industrial products & services and plantation heavyweights led gains. Given Wall Street ended flat without significant selling pressure which may benefit stocks on the local front.

The FBM KLCI witnessed further gains as selected telecommunication, consumer, and banking heavyweights lifted the key index; the foreign funds turned net buyer after a 14-session selloff. We believe the local bourse may set for further recovery on the back of stronger oil price, coupled with bargain hunting activities ahead of the tabling of Budget 2023.

Following a heavy selldown in the past week due to continuous outflow of foreign funds, the FBM KLCI bounced higher. Given the strong rebound on Wall Street overnight, we believe the regional markets and local bourse should trade on a higher note. Nevertheless, the rebound may sit on a shaky ground due to lingering global recession fears and lack of fresh positive catalysts; investors may take the opportunity to sell into strength.