Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
Malaysia’s consumer stocks are poised for a rebound, supported by a stronger ringgit, according to Singular Asset Management, the country’s top-performing fund. Kok Lin Teoh, founder and chief investment officer, expects better margins for companies as the cost of importing raw materials becomes cheaper, boosting earnings growth in the next two to three years.
Teoh, who manages about US$400 million (RM1.6 billion) across Asia-focused funds, is now shifting the focus of the Singular Value Fund towards domestic consumption-related stocks, including banks and consumer companies, to capitalize on local opportunities. “We are reducing our exposure to export-oriented industries because the ringgit has strengthened, and moving back into more domestic sectors,” he explained.
After hitting a 26-year low, the ringgit has surged 14% in the three months leading up to September, outperforming other emerging market currencies. This, along with rising wages for civil servants and increased disposable incomes, is expected to drive consumer spending and benefit the consumer sector.
While local consumer stocks have lagged, rising just 2.6% this year compared to the 14% gain in the FTSE Bursa Malaysia KLCI Index, Teoh is optimistic about their future. His Singular Value Fund, with a return of 31% this year, has outperformed 95% of its peers, according to Bloomberg data. Teoh is also repositioning into financial stocks and firms that are expected to gain from growing direct investments into Malaysia.
Teoh highlighted the political stability achieved by the Malaysian government as a key factor in attracting foreign investments, positioning the fund to benefit from these investment themes in the coming years.
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