0356 GMT - Malaysian equities may face volatility in the near term amid persistent tariff uncertainties and a likely turbulent 3Q for the domestic market, CIMB Securities says in a note. Locally, potential reforms to RON95 fuel subsidies and higher power tariffs could weigh on sentiment, it says. However, these headwinds could be partially offset by strong domestic liquidity, a strengthening ringgit and policy support. CIMB lowers its forecast for KLCI core net profit growth to 3.4% from 9.3% for 2025 and to 6.5% from 6.6% for 2026 following a weak 1Q earnings season. It also reduces its end-2025 KLCI target to 1560 from 1657 and prefers companies with defensive earnings profiles. CelcomDigi, Public Bank and Tenaga Nasional are among its top large-cap picks. The KLCI is 0.3% lower at 1503.51. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
June 02, 2025 23:56 ET (03:56 GMT)
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