Market Pulse - 12Dec12 - Relieved By Bargain Hunting

The FBM KLCI rebounded after a 5-day selldown and amid broad-based buying interest emerged in tandem with the positive sentiment across regional markets. However, given the pullback last week on Wall Street, the local bourse may trade in a range bound mode this week ahead of a series of interest rate decisions from the US Fed, UK Bank of England, and European Central Bank. Nevertheless, investors will be looking forward to China’s further reopening and easing of Covid-19 restriction.