0122 GMT - CIMB Securities adopts a more cautious near-term outlook on Malaysia's equity market amid escalating global trade tensions, which could slow global growth and weaken corporate earnings visibility. However, domestic liquidity, record-high approved investments and structural reforms may offer support, analysts Ivy Ng Lee Fang and Lim Yue Jia say in a note. Following weaker-than-expected 4Q 2024 earnings, they downgrade the rubber gloves and tech sectors to neutral from overweight. They also lower the KLCI's end-2025 target to 1657 from 1766, citing large foreign fund outflows. CIMB top picks include CelcomDigi, Gamuda, Hong Leong Bank, Tenaga Nasional, SD Guthrie, IHH Healthcare and RHB Bank. The KLCI is up 0.7% at 1566.76. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 20:22 ET (01:22 GMT)
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