KUALA LUMPUR (March 29): Shares of RHB CAPITAL BHD [] were the top loser in late afternoon trade on Thursday as investors booked recent profits as market sentiment was impacted by the key regional bourses.
At 3.25pm, RHB Cap was down 16 sen to RM7.74. Turnover was 705,100 shares done.
The FBM KLCI was up 0.19 of a point to 1,583.94. Turnover was 1.04 billion shares valued at RM783.45 million. Losers beat gainers 459 to 207 while 325 counters were unchanged.
European and Asian stock markets deepened this week's losses on Thursday after a bearish round of U.S. data in the previous session, with attention fixed on the most testing in a string of recent debt auctions for Italy, Reuters reported.
European shares fell 0.4 percent in early trade, adding to a roughly 1 percent fall on Wednesday and bringing losses since mid-March to more than 3 percent.
Meanwhile, OSK Research had in a recent report on the Malaysian banking sector, said it was maintaining its Neutral stance on the sector at this juncture given the moderating growth outlook for consumer loans, which contribute a hefty 55% of the overall system loans, as well as continued pressure on net interest margins.
“Our top sector picks are CIMB (BUY, FV: RM8.05), Maybank (BUY, FV: RM9.60) and RHB Capital (BUY, FV: RM9.90),” it said.
At 3.25pm, RHB Cap was down 16 sen to RM7.74. Turnover was 705,100 shares done.
The FBM KLCI was up 0.19 of a point to 1,583.94. Turnover was 1.04 billion shares valued at RM783.45 million. Losers beat gainers 459 to 207 while 325 counters were unchanged.
European and Asian stock markets deepened this week's losses on Thursday after a bearish round of U.S. data in the previous session, with attention fixed on the most testing in a string of recent debt auctions for Italy, Reuters reported.
European shares fell 0.4 percent in early trade, adding to a roughly 1 percent fall on Wednesday and bringing losses since mid-March to more than 3 percent.
Meanwhile, OSK Research had in a recent report on the Malaysian banking sector, said it was maintaining its Neutral stance on the sector at this juncture given the moderating growth outlook for consumer loans, which contribute a hefty 55% of the overall system loans, as well as continued pressure on net interest margins.
“Our top sector picks are CIMB (BUY, FV: RM8.05), Maybank (BUY, FV: RM9.60) and RHB Capital (BUY, FV: RM9.90),” it said.
