Market Pulse - 8Dec22 - No Reprieve

The FBM KLCI extended its losing streak as investors continued to stay on the sidelines. While investors may cheer for China’s easing of Covid-19 restrictions, gains might be capped as worries over the US Federal Reserve long rate-hike cycle could dampen the economic growth going forward. On the local front, we believe focus will be on the re tabling of Budget 2023 and traders will be watching the developments on the tackling of high living costs by the government.