Market Pulse - 20Jun23 - New Initiatives To Spur Local Stockmarket
The FBM KLCI edged marginally lower along with the softer regional markets’ movements amid cautious sentiment prior to the US Fed Chair’s upcoming semiannual testimony. Whilst the government’s decision to cut stamp duty for shares traded on Bursa Malaysia may stimulate trading activities, sentiment may remain tepid without fresh catalysts on the global front and ahead of the 6 states elections. Meanwhile, investors may stay mixed in view of the upcoming China’s interest rate decision.