Both of those stocks are still in the green this year despite steep declines Tuesday after talks about a business combination were called off. Meanwhile the FTSE Bursa Malaysia KLCI Index is down more than 5% in 2019, the worst-performing market in Asia.
(Sept 11): The rally in Southeast Asian telecommunications shares this year is unsustainable, given the weaker pace of data revenue growth, according to DBS Bank.
The sector’s recent outperformance versus country indexes has been mostly driven by high dividend yields as well as merger and acquisition activity, especially for names like Malaysia’s Axiata Group and DiGi.Com, analysts Sachin Mittal and Woo Kim Toh wrote in a note.
