Market Pulse - Turning Choppy Ahead of US Inflation Data

The FBM KLCI slumped alongside regional peers on the back of broad-based selling pressure. We expect investors to trade in a risk-off mood following the negative sentiment on Wall Street, especially the selldown in technology stocks triggered by rising bond yields ahead of the US inflation data may spillover on our local technology stocks. Nevertheless, the daily Covid-19 cases dropped below 10,000 in Malaysia should support economic recovery, thereby benefiting the recovery-themed.