Market Pulse - 17Mar23 - Bogged Down By External Headwinds

Resurfaced fears over global banking crisis has once again sent the FBM KLCI below the key 1,400 mark, but we expect a broad-based rebound on the local bourse amid increased optimism on Wall Street over banking industry following a joint rescue on First Republic by several big US banks. Nevertheless, the rebound could be short-lived as investors are likely to trade in a cautious mode while keeping an eye on the US Fed’s interest rate decision next week.