Improved prospects for tech sector likely in 2H23

FILE PHOTO: Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration

PETALING JAYA: The prospects of the US Federal Reserve being at the end of its interest rate hiking cycle and revamp of Alibaba Group Holding Ltd have made tech sector stocks attractive but analysts are cautious and expect signs of recovery only in the second half of the year.

They said non-semiconductor players are likely to have better prospects on the back of stable domestic-focused business and the full reopening of borders.