NST Online Business Times : latest

Posted: 25 Sep 2011 06:41 PM PDT

AMMB Holdings Bhd, a Malaysian banking group, fell to a one-year low in Kuala Lumpur trading after the stock was cut to "hold" from "buy" at Malayan Banking Bhd.

The stock slid 1.4 percent to RM5.69 at 9:32 a.m. local time, headed for its lowest close since Sept. 24, 2010. -- Bloomberg

RHBCap shares hit by poor outlook for banks

Posted: 25 Sep 2011 07:07 PM PDT

Shares in Malaysia's RHB Capital fell as much as 3.9 percent in early trade on Monday, on concerns about prospects for the banking sector due to the uncertain global economic outlook.

"There have been a series of downgrades on banks in Singapore, Indonesia and China so this is part of the trend," said a dealer at a local bank.

CIMB Equities Research said in a note on Monday that it has a technical sell on RHB Capital shares at RM7.72 at a price-to-earnings of 9.2 times and price-to-book value of 1.6 times.

The bank's stock broke below its triangle support last week, it said.

"Looking at the chart, we believe the trend is still down," CIMB said. "Although intermittent rebound could take place, resistance at RM7.89-RM8.17 would likely keep the bulls at bay.

RHB's shares were down 2.5 percent at RM7.53 by 9.33am, versus the broader market's 1.1 percent drop. -- Reuters

Kredit: www.nst.com.my

Ahad, 25 September 2011

NST Online Business Times : latest

NST Online Business Times : latest

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