Bank stocks down but not out

Bursa fin index

PETALING JAYA: Banking counters have been hammered in recent days amid rising Covid-19 cases and concerns over renewed restrictions but analysts remained optimistic for the sector’s recovery.

Another round of movement control order (MCO) would dampen economic growth further but RHB Investment Bank Research said investors should focus on the eventual recovery, as neither a resurgence of cases nor the re-imposition of lockdown measures would impact the vaccine timeline.