Market Pulse - 19Apr23 - Still Range Bound

The FBM KLCI extended its decline along with most of the regional markets as the sentiment remained weak despite positive China’s GDP growth. The local bourse may see further consolidation on the global front during the earnings season as the corporate results may be impacted from the interest rate hike environment. Meanwhile, we believe the mixed sentiment may persist on the local front as traders may be on the sidelines ahead of the special holiday on Friday.