Market Pulse - 6Sep22 - Marginally Lower

The FBM KLCI closed marginally lower, taking cue from the mixed regional markets amid anxiety over energy crisis in Europe as well as ongoing China’s lockdown to curb Covid-19 spread under the “zero-Covid” policy. Moving forward, we opine that the global markets should stay in a consolidation mode, at least until the next CPI data, while the local bourse may turn their focus to the energy sector as OPEC decided to trim production for October 2022, which has driven the Brent oil price slightly above USD95 per barrel.