Market Pulse - 18Jan23 - Taking Another Jab Towards 1,500

The FBM KLCI rebounded, buoyed by late buying in telecommunications and industrial products & services heavyweights. We believe the inflation rate in Eurozone, as well as Bank Negara Malaysia and Bank of Japan’s monetary policy decision will remain in focus. Meanwhile, sectors such as manufacturing, construction, plantation, and agriculture may see production activities normalising going forward after the demand for migrant workers will be met under the Relaxation of Employment of Foreign Workers Plan.