Optimism on ringgit buoys CIMB, shares soar

Liquid stock: CIMB makes a good play for traders when there is a catalyst like a strong climb of the ringgit.

PETALING JAYA: Shares in the country’s second largest bank CIMB Group Holdings Bhd soared 31 sen to finish at RM4.90, almost 10% higher than its recent low of RM4.46.

This hefty gain yesterday pushed its price-to-book (P/B) ratio to above one when it was below one just last week.