FBM KLCI pares losses as results stay in focus

TheStar Mon, Feb 27, 2023 12:44pm - 3 months View Original


KUALA LUMPUR: The FBM KLCI retraced most of its losses from the morning session as investors attempted to shrug off the weakness plaguing regional markets to focus its attention on the final leg of the corporate results period.

Following the tabling of the revised Budget 2023, analysts agree that the announcement is will have little positive impact on the market, although certain sectors could benefit from upsides.

"Briefly, the budget announcement is broadly seen as neutral to the stock market with positive implications on selected sectors," said Kenanga Research in its weekly review.

It said the sectors included automotive, construction, consumer, and tourism-related services on the back of various incentives granted to boost tourist arrivals.

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