Technology sector downgraded to ‘neutral’ on dim second-half outlook
PETALING JAYA: The technology sector has been downgraded to “neutral” from “overweight” in view of a series of setbacks, mainly arising from the US-China trade tensions.
AmInvestment Bank Research said the recovery anticipated in the second half of the year was now unlikely to happen.
This, it said, was following what was supposed to be the “final trade talk” on May 10, 2019, taking a turn for the worse, resulting in further tariff hikes and the unexpected trade ban on China’s Huawei.
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