0119 GMT - Malaysia's equity market may stay range-bound as investors digest the higher-than-expected 24% U.S. tariff, CIMB Securities analysts Ivy Ng Lee Fang and Lim Yue Jia say in a note. Export-driven sectors could come under pressure, though Malaysian glove makers may gain market share from Chinese competitors facing steeper tariffs. The impact on export-driven earnings could become more pronounced in coming months, due to higher tariffs and absence of festive demand, they add. In near term, they expect domestic-oriented companies with stable dividend yields, such as banks, telecom, utilities to provide shelter from tariff-related headwinds. Despite uncertainties, CIMB maintains its end-2025 KLCI target at 1657, with Public Bank, CelcomDigi, Tenaga Nasional, and IHH Healthcare among its top picks. The KLCI at 1511.07. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 21:19 ET (01:19 GMT)
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