Tenaga shares seen oversold after sharp recent decline
Market talk citing RHB’s Max Koh says Tenaga Nasional appears oversold after a 12% drop from its recent high. The note points to earnings expected to strengthen in 2H and to Malaysia raising electricity charge thresholds for fuel surcharges from September.
Tenaga Nasional shares appear oversold after falling 12% from their recent high, with earnings expected to strengthen in 2H, RHB analyst Max Koh says in a note. As the government is raising the threshold for fuel surcharges and other electricity charges to 800kWh a month from 600kWh from September…