What’s stopping FBM KLCI from hitting 1,800 points?

Fund managers appear to be taking a cautious stance despite the talk of low market valuation, expected growth in earnings of companies in 2023, etc.

IN the lunar year of the Rabbit, retail investors would probably be wishing for the local market to run up like a hare but it’s more likely it will perform like the tortoise, making gradual gains instead.

The key would be money flow and investors sentiment. The benchmark FBM KLCI has made small gains since the Pakatan Harapan-led unity government took office in Putrajaya but the upside will be capped until investor sentiment improves significantly.