Market Pulse - 22Feb23 - Taking Cautious Steps

The FBM KLCI ended marginally higher as the key index reversed earlier rally into the afternoon session amidst mixed regional market. Following the heavy plunge on Wall Street overnight, we believe investors may stay on the sidelines as concerns over the interest rate hikes expectation continues to pressure the market sentiment. Nevertheless, the US FOMC meeting minutes will remain in focus and should provide more clues going forward.