Market Pulse - Resumption Of Recovery Trend

The FBM KLCI reversed earlier losses to end in the positive territory prior to the US Fed’s interest rate decision as concerns over rate hikes have been priced in. We believe the recent rebound should continue as the comments by the US Fed Chairman Jerome Powell have eased investors’ concerns over the interest rate hike outlook going forward. The positive momentum on Wall Street is likely to spill over to the regional and local bourses.