Market Pulse - 19Aug22 - Quick Profit Taking Sapped Gains

The FBM KLCI extended losses amid weaker sentiment across the regional markets as investors continued to digest recent gains. Given the US markets are still finding its direction, we believe the local bourse may take a breather amid softer inflow of foreign funds and the FBM KLCI might be resisted along its SMA200 zone. Investors will be focusing on the ongoing reporting season to position themselves in the stock markets.