Market Pulse - 17Feb23 - Mild Profit Taking

The FBM KLCI slipped into the negative territory after midday break amidst quick profit-taking activities following a four-day rally. As investors parsed through the stronger-than-expected inflation report, global sentiment has again turned slightly weaker in the anticipation of a hawkish tone from the Fed moving forward. While bargain hunting activities may occur amid the reporting season, we believe cautious sentiment on the global front may capped the buying momentum on the local bourse.