Institution: After the implementation of US tariffs, competition in the Southeast Asian market should return to the level before the tariffs took effect.

Swiss bank Credit Suisse analyst Jen-Ai Chua commented that the tariff results in Southeast Asia have eliminated a key barrier in their market. She stated that the region has avoided a bigger blow from the US equivalent tariffs, which is reassuring. Despite the tariffs being higher than expected at the beginning of the year, the situation remains the same. Trade and capital competition in ASEAN should return to the levels before the tariffs took effect, as no country has gained a relative advantage. The semiconductor industry tariffs may affect Malaysia, Thailand, and Singapore, as semiconductors make up a significant portion of their exports to the US. The definition of transshipment and how additional tariffs will be implemented remain uncertain factors. Credit Suisse maintains a neutral view on the Malaysian stock market and a negative view on the Thai stock market.