Market could trim earnings following extended rally

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At the open, the benchmark FBM KLCI was down 1.63 points to 1,447.66.

According to Malacca Securities Research, the market has performed relatively well in recent days to hold above the 1,400 level, backed by fresh buying from foreign institutional participants.

Following the US Federal Reserve's overnight decision to raise interest rates by a further 25 basis points, market expectations are now for a pause in any further hikes, which the research firm said is positive for the equities markets.

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