Market Pulse - 1Jun23 - Downward Pressure Uneased

The FBM KLCI slumped for the second session along with regional markets as investors took profit after the contraction in China’s factory activity dampened hopes for global economic recovery. Investors may continue to watch the debate for US debt ceiling while taking a cautious trading approach. At the same time, the labour market tightness and stubbornly high recent inflation data may continue to sap trading interest in the equities market.