Market Pulse - 20Apr23 - Selling Pressure Escalated

The FBM KLCI drifted south, marking the third session of decline along with the weaker regional markets’ sentiment ahead of the Hari Raya public holiday; foreign funds turned net sellers for the second session with 5-day cumulative net selling value standing at RM46.6m. Meanwhile, given the muted tone on Wall Street, we expect the regional markets and local bourse could continue to trade in a rangebound manner.