Market Pulse - 21Feb23 - Extended Pullback

The FBM KLCI was in the midst of a pullback, declining for the third session as investors were staying on the sidelines ahead of the re-tabling of Budget 2023. Also, investors may continue to monitor the geopolitical tensions as the European Union aims to adopt a new package of sanctions against Russia this week, as well as the US President Biden’s visit to Ukraine. On the local front, earnings reports and the Budget 2023 re-tabling on Friday will remain as the key focus while investors monitor for a series of global economic data.