Market Pulse - 23Feb23 - Dampened By External Headwinds

The FBM KLCI retreated from a rebound-attempt yesterday, taking cue from the bearish regional markets following the negative performance on Wall Street. As broad-based selldown persisted on Wall Street, investors may remain cautious while eyeing the inflation data for more clues on the interest rate directions going forward. On the local front, all eyes shall be on the re-tabling of Budget 2023 tomorrow as well as Malaysia’s inflation rate.