Market Pulse - 22Aug22 - Extended Pullback

The FBM KLCI drifted lower last Friday in tandem with most of the regional markets as persistent selling pressure were noticed following the elevated inflation data in the European region. With the global investors reassessing the risks of interest rate hikes by the US Feds moving forward, growth stocks may see some selling pressure. Nevertheless, we believe traders on the local bourse may remain cautiously optimistic amid the earnings season, while monitoring Malaysia’s inflation rate that will be released this Friday.