PETALING JAYA: Maybank Investment Bank (IB) Research has downgraded the property sector to “neutral” from “overweight” due to the headwinds it is facing, which ranges from the likelihood of further cooling measures and dwindling catalysts due to the potential deferment of certain large infrastructure and property projects to the possible delay in mega listings.
Hong Leong Investment Bank (HLIB) Research shared the sentiment that the sector was imbued by “subdued sentiment” due to the macro and sector-specific challenges, such as concerns over an oversupply in the property market that would cap the near-term performance of the Kuala Lumpur Property Index. The index has declined 17% from its peak since end-May.
