Market Pulse - 30Nov22 - Still Scaling Back

Following the conclusive GE15 outcome, we continued to observe that the FBM KLCI taking a mild breather amid profit taking activities from selected glove heavyweights. Also, with the Wall Street ended mixed, the uncertain sentiment may spillover towards the local front. Nevertheless, traders could focus on the ongoing reporting season to uncover undervalued gems. Meanwhile, the market is still waiting for the formation of the Cabinet and it may provide clues for Malaysia’s growth going forward.