A dealer says the FBM KLCI is likely to drift sideways ahead of the Fed’s decision and upcoming 4Q22 results season in February.
GLOBAL equity markets will continue to face multiple headwinds in 2023 with lingering Covid issues, the Russia-Ukraine conflict, sticky inflation and potentially more interest rate hikes impacting sentiment.
For the immediate term, markets await cue from the US Federal Reserve (Fed), which will meet on Jan 31 to decide on its next interest rates course.
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