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Maybank still ‘negative’ on Singapore banks amid US dollar rise

Broker's Calls

Maybank still ‘negative’ on Singapore banks amid US dollar rise

Jude Chan Published on Fri, Nov 25, 2016 / 4:05 PM GMT+8

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SINGAPORE (Nov 25): Maybank Kim Eng is keeping its “negative” rating on the Singapore banks sector as the US dollar continues to climb against regional currencies.

In a report on Wednesday, Maybank analyst Ng Li Hiang says “Maybank’s FX team expects more volatility for ASEAN currencies ahead”.

So far, the Malaysian ringgit has led the way with the biggest slide, falling close to 5% over the past two weeks.

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