Market Pulse - 17Jan23 - Starting The Week On The Slower Gear

The FBM KLCI staged a minor pullback, snapping three-session winning streak as investors took profit ahead of the Chinese New Year holiday. Investors may take a cautious stance amid the lack of fresh catalysts environment, but overall sentiment could suggest that the downside risk is limited as the Fed is expected to be raising the interest rate at a softer pace going forward following the declining US CPI data. Meanwhile, the market is waiting for BoJ’s interest rate decision, as well as the UK and Eurozone’s inflation rate.