Market Pulse - Slight Profit Taking Activities

The FBM KLCI fell below the key 1,600 level amid lacklustre trading as investors stayed cautious amid the lack of fresh catalyst environment. The key index may see mild consolidation over the near term with trading focus on the banking and consumer sectors as crude oil prices tumbled to trade around USD112 on the back of growing concerns over weaker fuel demand in China after several lockdown measures taken to curb Covid-19 infections.