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KUALA LUMPUR: Blue chips closed broadly lower on Wednesday, weighed down by losses in Petronas-linked stocks and some banks, but the broader market was slightly firmer while the ringgit jumped against the pound sterling.
KUALA LUMPUR: AmInvestment Bank Research has Buy calls on CIMB and RHB Bank with fair value of RM5.70 and RM6 a share which are based on price-to-book value of one time.
KUALA LUMPUR: Blue chips ended Wednesday on a lacklustre note after the recent bout of foreign selling as the MSCI change in weightage for Malaysia took effect while the ringgit slipped among the major currencies.
KUALA LUMPUR: Profit taking of Public Bank and Hong Leong Bank dragged the FBM KLCI into the red at midday on Wednesday while MISC continued to lose ground amid the weaker broader market as the ringgit weakened.
PETALING JAYA: The recent Bank Negara revised guidelines on restructured and rescheduled (R&R) loans could hit the asset quality of banks and impact its earnings this year amid the compression in net interest margins, slower loan growth and softer capital market activities in the banking sector.
KUALA LUMPUR: CIMB Equities Research expects Maybank, Public Bank and Hong Leong Bank to benefit from the 25 basis points hike in the overnight policy rate (OPR) which was increased to 3.25%.
Bank Negara Malaysia’s (BNM) move last Friday to tighten consumer lending will be negative for loan growth but the impact will not be significant, CIMB said, as it urged investors to hold on to their holdings in banks.
JF Apex Research expects Malaysian Resources Corportation Bhd (MRCB), Eastern & Oriental Bhd and the banks – Public Bank, Hong Leong Bank and AMMB – to see trading interest on Thursday.