Market Pulse - 18Aug22 - Prelude To More Profit Taking

The FBM KLCI saw a mild setback despite a bullish momentum across the regional markets; KLCI’s earlier gains faded in the afternoon session. In view of the softer Wall Street performance, sentiment on the local bourse may turn cautious as attention shifted back to the US Fed’s interest rate policy following the release of the Fed’s July meeting minutes. Nevertheless, investors may look out on the upcoming earnings season, stocks with solid earnings growth under this environment will be on the focus.