Market Pulse - 20Mar23 - Recouping Weekly Losses

The FBM KLCI bounced higher along with the regional markets amid a relief rally in view of a rescue plan for the US banking sector. Although the volatility may persist on the local bourse following Wall Street’s retreat amid lingering concern over the US banking turmoil and Credit Suisse crises, we expect the market to stay calmer as UBS announced to take over Credit Suisse just this morning. Meanwhile, traders will monitor on the US Federal Reserve interest rate decision this week.