Market Pulse - On The Mend With Limited Upside

The FBM KLCI rebounded on Friday following the back-to-back losing sessions, led by selected banking and industrial products heavyweights; rising regional markets added to the positive sentiment. Nevertheless, we deem the rebound may be shortlived amid rebound in Covid-19 cases in Malaysia, reintroduction of lockdowns in China, as well profit taking activities on Wall Street overnight.