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CIMB Research maintains Neutral on Technology sector

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CIMB Research maintains Neutral on Technology sector Empty CIMB Research maintains Neutral on Technology sector

Post by Cals Mon 17 Jun 2013, 10:29

CIMB Research maintains Neutral on Technology sector
Business & Markets 2013
Written by theedgemalaysia.com   
Monday, 17 June 2013 08:10


KUALA LUMPUR (June 17): CIMB Research has maintained Neutral on the TECHNOLOGY [] sector and said the improved earnings in 1Q13 could be mostly credited to seasonal factors.

In a note June 14, the research house said the sector’s recovery in 2013 would be gradual as: 1) global chip sales growth were moderating, 2) regional PMIs had yet to show convincing expansion, and 3) commodity prices are still soft.

“Jobstreet is our sector top pick for its earnings growth and higher dividend potential. We currently have two Outperform (Jobstreet and MyEG) and three Neutral calls (MPI, Uchi, and Unisem).

“We remain Neutral on the overall local technology sector as we expect the outlook to stay hazy given uncertainties in order book visibility and consumer sentiment, particularly in the eurozone,” it said.
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