Affin Hwang Capital Daily Insight (LV) - 3 November 2014 - TENAGA / BANKING / ECONOMY- US OUTLOOK / FIR

Top Calls

Results Note - Tenaga (BUY, maintain) -Strong finish TNB's FY14 results were above our expectations. We reaffirm our positive view on TNB, one of our top picks, on a favourable fuel-generation mix amid a rebound in electricity demand. Maintain BUY with higher TP of RM16.50 on 14-16% hikes to FY14-16E earnings.

Other Calls

Sector Update - Banking (NEUTRAL, maintain) - More optimism in Sept, but ytd growth remains weak

Economy - US Outlook - Weekly Wrap (27 - 30 Oct) -US Fed likely to hike policy rate gradually from 2Q15

Fixed Income Research - Softer tone post FOMC on decent volumes

Morning News and Market Summary