Market Pulse - 2Sep22 - Below the 1,500 again

The FBM KLCI violated the 1,500 psychological level as profit-taking emerged amid a persistent downtrend on Wall Street. We believe the uncertainties on the global front, coupled with the falling commodity prices will continue to weigh on investors’ sentiment over the near term. Despite the Dow Jones has turned mildly higher, we expect bargain hunting activities may only emerge on counters with defensive nature and solid earnings that were released recently.