Market Pulse - 30Jan23 - Ending the week on flat note

The FBM KLCI has ended marginally below 1,500 dragged by the weakness on the banking sector as BNM maintained the OPR at 2.75%. However, with the positive sentiment from Wall Street, we believe the buying interest may spillover to the broader market, providing an upside towards the lower liners, especially the technology sector. Global stock markets could see further recovery on the back of decent US GDP data coupled with the recovery theme from China, which may boost the recovery further going forward.