M+ Online
25th July 2022

Market Pulse - Soaring Higher

The FBM KLCI ended on a positive note last Friday amid the return of foreign funds which noted gains accelerated on the banking heavyweights. However, we believe the key index may succumb to mild profit taking activities following the overnight pullback on Wall Street. Nevertheless, the broader market may stay positive-bias over the near term as it has dropped significantly lower over the past 2 weeks into the oversold region. This week, investors will be watching closely on the US Fed’s interest rate decision.

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