Market Pulse - 10Jan23 - Upbeat Momentum May Take A Pause

The FBM KLCI mounted solid recovery in tandem with the regional peers, cheering the positive movements on Wall Street last Friday as reopening of China borders lifted investors’ sentiment. Should the key index sustain above the SMA200 zone, the sentiment will likely to turn more bullish over the near term. However, given the emergence of cautious sentiment on Wall Street overnight due to lingering worries over global inflation, it may cap the upside potential on the local front.