M+ Online
8th August 2022

Market Pulse - Defending 1,500

The FBM KLCI retreated mildly on the back of elevated tension between China and Taiwan. Also, with the market expecting a more hawkish tone from the FOMC meeting going forward after the better-than-expected jobs data on Friday, we expect the near-term volatility to persist. However, we believe the downside risk might be limited if the economy is on the recovery tone; short term upward move could be seen. Similarly, on the local front, we are heading into the August reporting month, investors may position themselves ahead of the period within sectors with higher earnings certainty.

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