PETALING JAYA: Nomura Equity Research has upgraded Malaysian banking stocks to “overweight” due to their underperformance relative to other South-East Asian banks as well as the likely removal of political overhang following the general election.
The research house, which has Malayan Banking Bhd
(Maybank) and CIMB Group Holdings Bhd as its large-cap picks for their strong loan growth prospects, said concerns that the election would trigger a knee-jerk reaction were “overdone”.
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