Market Pulse - Onto Better Footing

The FBM KLCI closed higher amid buying interest within telco and banking heavyweights. Given the strong rebound and follow through interest on Wall Street, we expect the spillover of buying support may emerge on the technology stocks on the local front and traders may focus on the recent bashed down technology leaders as some of their earnings have stabilised in the recent reporting season. However, we expect the upside to be limited given the unresolved Ukraine and Russia tension.