Market Pulse - 4Oct22 - Recovery In Store

Following a heavy selldown in the past week due to continuous outflow of foreign funds, the FBM KLCI bounced higher. Given the strong rebound on Wall Street overnight, we believe the regional markets and local bourse should trade on a higher note. Nevertheless, the rebound may sit on a shaky ground due to lingering global recession fears and lack of fresh positive catalysts; investors may take the opportunity to sell into strength.