Market Pulse - Mild Rebound But Upside Limited

The FBM KLCI rebounded as investors continued to scoop up beaten-down shares, especially the banking heavyweights. Nevertheless, we expect market sentiment to remain fragile as volatility and selling pressure resumed on Wall Street on the back of inflation fears and weak results from retailers. Also, the hard-hit technology stocks may face further selloff under this interest rate hike environment. Nevertheless, we are slightly positive on the recovery-themed sectors.