Market Pulse - 20Oct22 - Solidifying Above 1,400

Banking-led rallies kept the FBM KLCI above the key 1,400 level after the greaterthan-expected special dividend by AFFIN. However, we opine that the rebound may remain fragile as investors may weigh potential global recession concerns over the recent reporting season on Wall Street as the spike in UK inflation spooked the markets. Nevertheless, traders may look at companies with strong balance sheet to invest in the long run.