Investor sentiments cautious of new US trade wars

The local stock market is likely to remain within a downward consolidation trend due to a lack of fresh global catalysts. While Malaysia’s 3Q24 GDP met expectations, investor sentiment remains cautious amid potential renewed U.S.-China trade tensions following Trump’s re-election.

His proposed tariffs could escalate significantly, targeting goods worth 10 times more than the previous trade war. Locally, focus shifts to the ongoing quarterly earnings season.

The REIT sector is expected to stay resilient due to its defensive nature and potential benefits from future interest rate cuts, while oil and gas stocks may face pressure from last Friday’s decline in crude oil prices.

Staff Writer

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