Market Pulse - Drifting Further From 1,600

The FBM KLCI plummeted on Friday in tandem with regional peers on the back of bearish global sentiment following a sharp decline on Wall Street and the net outflow of foreign funds. As the US stocks suffered another selloff, we expect the local bourse to follow suit, especially within the technology sector. Nevertheless, there might be bargain hunting activities ahead of the earnings season especially in the recovery-themed sectors as well as REITs.