0109 GMT - Malaysia's partnership with Arm Holdings for access to its advanced technology appears a long-term initiative to shift from manufacturing to intellectual-property-driven semiconductor development, say Hong Leong IB analysts. While the move could spur local innovation and create a new value chain, the sector remains cyclical with mixed near-term fundamentals, Chan Jit Hoong and Tan J Young say in a note. Local tech stocks are trading at high valuations compared with regional peers, they say and favor companies involved in semiconductor applications, followed by foundries, outsourced semiconductor assembly and test companies. Hong Leong maintains a neutral rating on Malaysia's tech sector, and pegs Itmax System and SMRT as its top picks. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 20:09 ET (01:09 GMT)
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