Market Pulse - Cautiousness Ahead Of Inflation Data

The FBM KLCI closed marginally higher as final hour buying interest lifted the key index. Nevertheless, we believe sentiment could remain tepid amid downtrend move on Wall Street and regional markets. Meanwhile, concerns over recession persisted against the backdrop of rising global interest rate setting. Commodities wise, crude oil price sank below USD100 per barrel amid concern over weaker demand following China’s stringent move to curb the Covid-19 spread.