Market Pulse - 9Feb23 - Unabated Volatility

The FBM KLCI trended lower amid selling pressure in banking and industrial products & services heavyweights. Meanwhile, the local bourse continued to see net selling activities from foreign investors (5-day cumulative net selling: - RM407.0m). While the bargain hunting activities may emerge following a two-day selldown, overall market undertone will remain cautious amid the overnight negative performance on Wall Street amid the persisted worries over the US interest rate hikes.