Market Pulse - Slipped Below 1,600

The FBM KLCI skidded below 1,600 in tandem with the negative sentiment across the regional markets after Wall Street overnight’s movements and foreign investors turned net seller for the session. Given the higher-than-expected US CPI data, we expect volatility to persist and investors may focus on the accelerated inflation rate which may trigger a more hawkish tone from the Fed going forward on its monetary policies.