Market Pulse - Starting 2H22 Brighter

The FBM KLCI outperformed the regional peers as investors picked up beatendown shares, led by the banking and telecommunication & media heavyweights. While late-day rebound lifted Wall Street, we expect volatility to persist on the local bourse as inflationary pressure and recession fears still dominating the market. Investors are likely to stay cautious prior to the Malaysia’s interest rate decision and the US FOMC meeting (later this month).