KUALA LUMPUR, (Sept 21): Banking stocks AMMB Holdings Bhd (AmBank), Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd (CIMB) were among the top losers across the exchange in morning trades today.

At 12.13pm, AMBANK shares fell 28 sen or 5.60% to RM4.67, giving it a market capitalisation of RM14.92 billion. Some 2.43 million shares exchanged hands. Maybank shares dropped 22 sen or 2.53% to RM8.48, giving it a market capitalisation of RM83 billion. Some 8.16 million shares traded hands.

A remisier when contacted by digitaledge Daily, said bank stocks were on a decline today, possibly due to some quarters suggesting the U.S. Federal Reserve might increase the rates by year-end.

According to a Reuters report today, Asian shares had tumbled on Monday after the U.S. Federal Reserve's decision to keep interest rates at record lows, raised fresh concerns about growth globally, particularly in China.

"It looks like a continuation of the growth worries that have hampered markets for the last few months now," Reuters quoted Shane Oliver, head of investment strategy at AMP Capital in Sydney, as saying.

"European and U.S. shares had sharp falls, after initially benign reactions to the Fed, and this is now flowing through to Asian markets today," he said.

U.S. shares dropped more than 1.3% last Friday (Sept 18), after Fed Chair Janet Yellen said on Thursday (Sept 17) that the global economic outlook appeared less certain.

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