Market Pulse - Stretching Higher

The FBM KLCI rallied in a constructive Thursday session in tandem with the regional peers, taking cue from the strong gains on Wall Street. We believe the narrative that the US Fed will slow down the pace of interest rate hikes will continue to send positive signal to the regional and local bourses despite the contraction of GDP in the US. Meanwhile, Indonesia’s decision to lift its restrictions on the entry of its workforce into Malaysia starting 1st August 2022 should benefit the manufacturing and plantation sectors in Malaysia.