Market Pulse - Back To Near Support 1,540 Level

Steep selloff in plantation heavyweights sent the FBM KLCI into the negative territory amidst mixed regional performances. Investors are likely to trade cautiously at the start of the session, prior to the release of Malaysia’s inflation rate tomorrow. Nevertheless, we believe bargain hunting activities could kick in as the concerns over inflation may have priced in and traders may focus in the recovery-themed sectors. Also, we believe buying interest may emerge in the technology stocks in line with the rebound in Wall Street.