0139 GMT - UOB KayHian cuts its year-end KLCI target to 1620 from 1690, citing persistent U.S.-China tariff tensions, high U.S. bond yields, and potential "Trump tantrums" that weigh on valuations and recession risks. Although Trump rolled back extreme tariff threats, escalating trade frictions may still dampen sentiment, analysts say in a note. They remain defensive but see near-term trading opportunities. Tech remains vulnerable, but relief on phones, PCs, and chips opens tactical entry points in oversold names like Inari Amertron and NationGate, they say. Malaysia's lower tariff exposure also supports trade diversion, likely benefiting electronic manufacturing services players, UOB KH adds. Top picks include Eco World Development, Gamuda, Hartalega, and Hong Leong Bank. The KLCI is flat at 1486.60. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 21:39 ET (01:39 GMT)
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