Market Pulse - 23Nov22 - Political Situation Still In Limbo

The FBM KLCI slipped for another session with persisted foreign outflow as investors remained focused on the pending selection of Malaysia’s 10th Prime Minister. Meanwhile, Wall Street advanced overnight on the back of solid company earnings the positive momentum, this positive momentum could spill over to the regional markets. However, we believe the upside on the local front could be capped due to the fluid developments in the political scene, and greater clarity on that is required to boost investors’ confidence.