Market Pulse - 29Mar23 - Flirting Around 1,400

The FBM KLCI rebounded above the key 1,400 level after a relief rally on Wall Street amid the First Citizens Bank-SVB deal in the US. Nevertheless, sentiment seems not recovering as smoothly in the US and we expect profit taking activities on the big caps may emerge on the local front. Meanwhile, investors are shifting their focus on the economic outlook under the elevated interest rate environment.