Market Pulse - 25Nov22 - Cheered Over The End Of Political Impasse

The FBM KLCI witnessed a strong rally after the unity government is formed with PH being the largest party in the alliance and PH’s Chairman Datuk Seri Anwar Ibrahim is being appointed as Malaysia’s 10th Prime Minister. Following the conclusive outcome of the GE15, foreign investors turned net buyer, snapping a 6-day outflow streak and a stronger MYR, we believe the local bourse will continue its uptrend move amid rising investors’ confidence. Besides, the FOMC meeting minutes that saw some of the Fed’s official turning less hawkish may be perceived as positive to the stock markets.