Market may backtrack when central banks normalise rates

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PETALING JAYA: The local bourse’s benchmark FTSE Bursa Malaysia KL Composite Index, which has risen 2.9% from March 4 when Bank Negara announced a 25-basis point hike in the overnight policy rate to close yesterday at 1,321.43 points, will start to retrace from April as the region’s central banks begin to normalise their respective monetary policies.