PETALING JAYA: Pricey valuation may limit the local bourse’s upside, although the country has, for the moment, fended off potential stock sell-off inducing rating downgrades after announcing measures last Friday to broaden the tax base and lower the fiscal deficit.
Analysts said the budget unveiled on Friday contained some hits and misses. While lauding the strong commitment towards fiscal reform, they also lamented the lack of specific details on the Government’s subsidy rationalisation programme.
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