Market Pulse - 21Dec22 - Mild Recovery On Wall Street May Spillover

The FBM KLCI was in line with the regional markets’ slump after Bank of Japan widened the allowable band for long-term yields to 50 basis points from 25 basis points previously. Nevertheless, we believe the key index is poised for a rebound amid reducing selldown from foreign investors, as well as the rebound move on Wall Street overnight. Also, window dressing activities may kick in towards year end.