Market Pulse - 13Oct22 - Negative Bias Tone Persisted

The FBM KLCI remained lacklustre as the key index marked its fourth-session decline while the investors were looking around for fresh catalyst. As the final-hour selldown on Wall Street implied persisted concerns over the monthly US CPI data, we believe the global market may remain volatile in the near term. Meanwhile, on the local front, we believe traders are shifting their stance from growth to value stocks and we may expect some rebound in undervalued stocks with solid fundamentals.