Market Pulse - 3Oct22 - Ending 3Q22 Lower

The FBM KLCI wrapped up 3Q22 with a downbeat note as prolonged bearish cue from the global markets coupled with continuous selling from foreign investors dragged the key index lower. We believe global market turmoil will likely to continue, stemming from fear over potential recession in view of the elevated inflation rate. However, we expect mild bargain hunting activities to emerge ahead of the Budget 2023 this week.