Market Pulse - 12Aug22 - Heads Turning Towards Malaysia 2Q22 GDP

The FBM KLCI climbed above the psychological 1,500 level amid positive regional market sentiment as investors cheered that the inflation is cooling off in the US for June. Whilst the market has stabilised along 1,500, we believe the profit taking activities may pick up with the mixed trading tone on Wall Street overnight, following a drop in PPI data. Hence, broader market may take a breather for the short term; especially the technology sector.