Wednesday, October 21, 2009

Taking a look at banking sector

Banking stocks are typically a reflection of general economy wellness. After looking at a few of big banks in Malaysia, it's may worth to take a look at some of the winners and losers.

Obviously, there are two stocks have broken out from two-year high: CIMB and Hong Leong Bank. AMMB is almost breaking out from its two year high as well. Trend player will love to see if they breakout from multi-year high. Public Bank is 5% away. It's also telling us these winners have done something right. Whether optimism will drive them to the extreme or not will remain to be seen.

The obvious loser is Maybank which is stucked at 30% from its all time high. RHB is a touch and go depending whether people like their recent acquisition move.

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