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Bank stocks skid on possible cut in rate

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The GDP growth slowed to 3.6% in the fourth quarter of 2019.

Banks, being the largest industry constituent, dragged the FBM KLCI lower as the benchmark index fell by 8.54 points or 0.55% to 1,542.94.

Nor Shamsiah said yesterday that the country’s growth in the first quarter will be affected by the outbreak that is currently still developing. She also noted that the measure of impact at this stage cannot be fully ascertained due to other economic variables.

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Maybank Investment Bank Research estimates 4Q 2019 GDP to moderate to 3.8pc | Malay MailKUALA LUMPUR, Feb 11 — Maybank Investment Bank Research (Maybank IB) has estimated the gross domestic product (GDP) growth for the fourth quarter (4Q) 2019 to moderate to 3.8 per cent year-on-year (YoY) based on drops in mining and agriculture, plus a slowdown in manufacturing. This is despite a...
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