Market Pulse - Pressured By Red Hot Inflation

The FBM KLCI slipped as rebound attempt stalled amid broad-based selldown and negative cue from Wall Street. Investors are beset by mounting recession fears following US economic release which saw inflation roared 9.1% YoY. Meanwhile, Indonesia’s temporary freeze on sending migrant workers to Malaysia may prolong the labour shortages across all sectors, particularly in the plantation and manufacturing sector.