Wednesday, November 11, 2020

These Shares Are Predicted Positively After Covid-19 Vaccine Discovery

 CGS-CIMB Securities Sdn Bhd predicts shares of Public Bank Bhd, Genting Group and Malaysia Airports Holdings Bhd (MAHB) have the potential to receive the biggest positive jump after Pfizer and BioNTech announced encouraging results for the Covid-19 vaccine.

According to the firm, the reopening of international borders and the global economic recovery from the Covid-19 pandemic will attract more foreign tourists, thus having a positive impact on companies such as Genting Bhd, Genting Malaysia Bhd, MAHB, IGB REIT, IHH Healthcare Bhd and KPJ Healthcare Bhd.

CGS-CIMB also recommends ‘add’ to the companies concerned.

In addition, CGS-CIMB expects the banking sector to recover during the post-Covid-19 and to recommend 'overweight' to the sector recently.

"Our top choices in the banking sector are Public Bank, Hong Leong Bank Bhd, RHB Bank Bhd and AMMB Holding Bhd," CGS-CIMB analysts Ivy Ng Lee Fang and Nagulan Ravi said in a note today.

The oil and gas sector as well as the media are also likely to receive a positive impact from the Covid-19 recovery.

Analysts said the media sector would see a recovery in advertising spending and Astro Malaysia Holding Bhd would be the top choice that would have a positive impact.

"The oil and gas sector is likely to benefit if crude oil prices recover following high oil demand and our current top choices are Yinson Holdings Bhd and Dialog Group Bhd," said analysts.