Market Pulse - Turning Sideways

The FBM KLCI slide marginally but we expect the downside move could be well supported by the plantation and energy stocks. Also, following the overnight gains on Wall Street, we opine that the market sentiment will remain positive on the local front, as investors are brushing off concerns over the Fed’s monetary policies and Russia-Ukraine conflicts, while focusing on economic growth at least for the near term. Besides, the declining trend noticed in new Covid-19 cases may bode for the recovery theme.