Market Pulse - 15May23 - Ending The Week On A Weaker Footing

The FBM KLCI posted a fourth-session decline with selected banking and industrial products & services heavyweights being targeted and led the losses. The overall market sentiment may remain vulnerable amid global economic concern, while investors await the Eurozone’s inflation rate this week. Meanwhile, traders are focusing on the debt ceiling negotiations this week. Although we expect that the bargain hunting activities may kick in on the local bourse amid releasing of more earnings reports, the upside could be limited in the near term.