Market Pulse - Unabated Volatility

The FBM KLCI suffered its fourth straight session of decline, marking the longest losing streak since end of January 2022 as banking and healthcare heavyweights led losses. Given the selldown in technology stocks on Wall Street, we believe it may spillover to the tech sector on the local front. However, we still expect selected stocks in the consumer and REITs sectors to outperform the market on the back of business recovery catalyst.