Market Pulse - 9May23 - Marching Higher

The FBM KLCI started the week on a mildly positive note as the key index took cue from the positive performances on Wall Street last Friday. We believe the upside may sustain as the US Fed commented on a steady interest rate, which means it is likely to that the Fed is hinting for a pause on the interest rate at least for the near term. However, we expect the upside could be capped ahead of the inflation report in the US.