Market Pulse - 2May23 - Muted Recovery

The FBM KLCI retreated despite the rally on Wall Street as the sentiment was dragged down by selling pressure in the financial and plantation heavyweight. Investors may remain wary following the decline on Wall Street after First Republic was sold to JPMorgan. Meanwhile, the US Federal Reserve and ECB as well as Bank Negara Malaysia will be having their interest rate decisions this week, thus expecting softer trading activities on the overall markets.