The FBM KLCI rebounded from a four-day slide, outperforming most of the regional markets as the industrial products & services and utilities heavyweights led gains. We believe the overall sentiment will turn more positive with the rebound on Wall Street overnight. Meanwhile, Malaysia BNM’s and European Central Bank’s interest rate decision will be in focus today, we believe the market is pricing in a 25-basispoint Overnight Policy Rate (OPR) hike at this juncture.

The FBM KLCI extended its’ losing streak for the fourth straight session as final hour profit-taking activities dragged the key index lower. Global markets outlook remained uncertain amid growing investors’ fear on aggressive interest rate hike following a stronger economic data in the US, as well as a resurgence in China’s Covid-19 stringent measures.

The FBM KLCI closed marginally lower, taking cue from the mixed regional markets amid anxiety over energy crisis in Europe as well as ongoing China’s lockdown to curb Covid-19 spread under the “zero-Covid” policy. Moving forward, we opine that the global markets should stay in a consolidation mode, at least until the next CPI data, while the local bourse may turn their focus to the energy sector as OPEC decided to trim production for October 2022, which has driven the Brent oil price slightly above USD95 per barrel.

The FBM KLCI ended marginally lower on Friday amid mixed regional markets. The local bourse could remain wobbly over the near term as market selloff intensified on Wall Street, while the crude oil price remained under pressure. Meanwhile, investors may keep an eye on the European Central Bank’s and BNM’s interest rate decisions which will be releasing this week.

The FBM KLCI violated the 1,500 psychological level as profit-taking emerged amid a persistent downtrend on Wall Street. We believe the uncertainties on the global front, coupled with the falling commodity prices will continue to weigh on investors’ sentiment over the near term. Despite the Dow Jones has turned mildly higher, we expect bargain hunting activities may only emerge on counters with defensive nature and solid earnings that were released recently.

The FBM KLCI extended its winning streak, bucking the negative performance on Wall Street. While the key index managed to trade positively against the global stock markets, investors should remain cautious with the ongoing increased volatility environment attributed to the hawkish tone by the Fed; we expect the noise to continue until the next CPI data release and FOMC meeting.

The FBM KLCI eked out marginal gains, outperforming the negative regional markets as selling pressure subsided after the morning session selldown. Still, we expect global market sentiment to remain cautious on the back of persistent concerns over interest rate hikes going forward as the Fed stands firm on its hawkish stance. Meanwhile, on the local front, an increase in Malaysia’s July inflation rate may lead to another Overnight Policy Rate hike by Bank Negara.

The FBM KLCI extended gains to close marginally above the psychological 1,500 level on Friday, tracking the improved sentiment across regional markets last week. However, the local bourse may be headed for a widespread selloff, following a sharp decline on Wall Street overnight after the US Fed’s Chair reiterated its hawkish tone to tame inflation. We believe the US Fed’s interest rate decision going forward will continue to fuel market volatility. On the local front, investors may watch for Malaysia’s inflation rate at noon.