Market Pulse - 27Jan23 - Taking a jab towards 1,500

Despite the weakness as of late, we expect the key index to re-test the 1,500 level, taking cue from the positive sentiment on Wall Street overnight. The lower liners are staying firm amid strong buying interest, but we caution that the overbought position in most of the stocks across Bursa Malaysia may attract quick profit taking over the foreseeable future. Globally, the stronger-than-expected economic data in the US may continue to lend support for further recovery on Wall Street