Market Pulse - 12Sep22 - Marching Up

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.