August saw loan growth rebounding by a marginal 0.3% mom after a more subdued July. However, on a year-to-date basis, business loans (+0.4% ytd, +1.9% yoy) and household loans (+3.0% ytd,

Top Calls

Sector Update � Banking (OVERWEIGHT, maintain) - Year-to-date loan growth behind target August saw loan growth rebounding by a marginal 0.3% mom after a more subdued July. However, on a year-to-date basis, business loans (+0.4% ytd, +1.9% yoy) and household loans (+3.0% ytd, +5.7% yoy) continue to struggle despite the recent cut in the OPR and we think that 2016�s system loan growth will miss our target of 6%. Maintain OVERWEIGHT; our top sector picks are CIMB, PBB, AFG and RHB.

Other Calls

Economic Update � Manufacturing PMI - Malaysia�s PMI rose to 48.6 in September

Morning News and Market Summary

For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.