Market Pulse - 22Sep22 - Turning Risk Off Mode

The FBM KLCI slumped, taking cues from the global stock markets prior to the US FOMC meeting. As investors digested the 75-basis point interest rate hikes and the US Fed’s signals more hawkish tone into end-2022, global sentiment should remain tepid at least over the near term. Nevertheless, bargain hunting activities may emerge in selected sectors as traders may shift their focus to the Budget 2023 beneficiaries.