Market Pulse - Bargain Hunting Took Precedence

The FBM KLCI ended slightly higher despite the mixed sentiment on Wall Street. Given the persistent inflation worries, we believe the recent rebound could be short lived and we may anticipate selling pressure to emerge in the near term once the Fed’s quantitative tightening take place in June and this may affect the sentiment on the technology stocks. Back on the local front, we expect bargain hunting activities to emerge within the recovery-themed and plantation sectors ahead of the reporting season.