Market Pulse - Relief Rebound

The FBM KLCI bounced off 52-week low to outperform the mixed regional markets, supported by bargain hunting activities in selected index heavyweights. Nevertheless, we believe the local bourse may remain sour over the near term, taking cue from the mixed sentiment on Wall Street amid dismal earnings from banks, as well as the selloff in banking stocks in China which spread over from the
developer stocks.