M+ Online
2nd February 2023

Market Pulse - Ending Lower Ahead Of Mid-Week Break

The FBM KLCI took a breather before heading into the Federal Territory Day holiday as investors stayed cautious prior to the US Fed’s FOMC meeting. Meanwhile, the quarter-point rate hike from the Fed is within the market’s expectation and it has reversed the negative mood on Wall Street to close in the positive zone; this might be suggesting that the market has priced in the interest rate impact and acknowledging that the inflationary pressure has been easing. Hence, we believe the positive sentiment on both Wall Street and the regional markets will spill over to the local bourse.

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