Malaysia's automotive industry was downgraded at CIMB Investment Bank Bhd to reflect concerns that vehicle assemblers will be hurt by a supply shortage of components following Japan's earthquake and tsunami.
The auto sector was cut to 'neutral' from 'overweight,' Loke Wei Wern, an analyst at CIMB, wrote in a report today. UMW Holdings Bhd. was downgraded to 'neutral' from overweight,' the report said. - Bloomberg
No comments:
Post a Comment