Buying momentum in selected plantation, banking, and healthcare heavyweights pushed the FBM KLCI to close for the fourth straight session. We believe sentiment is turning positive as the regional markets and Wall Street are on a rebound mode ahead of the CPI data. We think the investors may shrug off inflationary concerns and turn their focus to the upcoming Budget 2023 which will be tabled in October.

The FBM KLCI ended the week on an upbeat note along with the regional markets, mainly lifted by the gains in the banking heavyweights following the OPR hike. We believe the local bourse is on pace for further upside after a broad-based rebound on Wall Street overnight, as investors could be taking a view that the CPI data is likely to decline and the Fed may be looking at a smaller hike going forward. Hence, the focus this week will be on the US and Eurozone’s inflation rate.

The FBM KLCI closed on a positive note, tracking the performance on Wall Street. We believe the key index should find firmer footing moving forward following an extension of rebound on Wall Street as softening crude oil price could ease the inflationary concerns on the global front. Nevertheless, the mounting economic risk in China may pose some threat to the global markets.

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.