Market Pulse - 14Apr23 - Recovery May Resume

The FBM KLCI finished largely unchanged after recovering most of its intraday losses; foreign funds turned net buyers for the first time in the past 5 trading days. Tracking the bullish sentiment on Wall Street overnight, we reckon that bargain hunting activities may emerge at least for the session and we expect a broad base recovery to take shape. Commodities wise, the Brent crude oil experienced a mild retracement towards USD86, while the CPO hovered above RM3,700. Gold prices solidify above USD2,000 as investors could be flocking for safe-haven assets following the growing concerns of recessionary risk.