Market Pulse - Emerging Signs Of Stability

The FBM KLCI closed a turbulent session mildly higher on Friday along with the regional peers as investors have priced in concerns over a potential recession moving forward. However, given the sharp gains on Wall Street overnight, investors’ narrative may have changed for now and may look out for opportunities within the stock market as most of the stocks were bashed down and oversold over the past weeks. On a side note, we believe the optimism in poultry sector may fade following the Prime Minister’s decision to retain the ceiling price of chicken.