Public Bank Berhad (PUB) is a Malaysian bank that provides financial services throughout the Asia-Pacific region. The company offers a variety of products and services, including credit cards, savings accounts, and online banking. It is one of the largest banks in the country, and its stock has a low volatility, making it an excellent choice for investors.
The price of Public Bank BHD was 4.28 on Wednesday, up by 0.08 percent from the previous trading session. Over the past four weeks, Public Bank shares have gained 3.82 percent. However, their performance is lagging; in fact, Public Bank’s stock price has increased only slightly in the past 12 months.
The stock price is currently in an downtrend, and has been resisting the 50EMA (EMA), which indicates a lower trendline. However, the stock has bounced off of this level and is creating higher highs and lower lows. However, to break out of this pattern, the price must remain above the lower trendline.
In the recent months, Public Bank has faced a series of challenges. One of them is the pending merger with Hock Hua Bank. Public Bank will sell its commercial banking operations to Hock Hua Bank in order to raise M$5 billion in cash. If all minority shareholders agree to the merger, the stock price of Public Bank would rise by almost 366 million. However, this deal would be a nightmare for shareholders of Hock Hua, which owns just under a third of the bank.
