Market Pulse - 17Aug22 - Buoyed By Net Foreign Fund Inflow

The FBM KLCI staged a strong breakout, mainly fuelled by buying interest in the telecommunication heavyweights, coupled with the healthy inflow of foreign funds; 5-day net foreign buying stood at RM719.8m. While the global markets may keep an eye on UK’s inflation to gauge the global recession risk, we believe the local bourse should remained positive in the upcoming earnings season as the international border was uplifted in April.