Bulls back as financial stocks recover

Wednesday, August 06, 2008

Trading in the past few weeks has given strong indications that the market correction that has lasted almost a year may finally be over.

According to a report by Capital Securities, most of the domestic stocks continue to recover from the lows seen over the last 12 months with financial sector, which is approaching its financial reporting season, in the forefront.

In a reversal of the bearish trend that hit the commercial banks since late last year, Standard Chartered, Barclays, ABCH and BIHL have registered strong gains in the past weeks.

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