KUALA LUMPUR (Aug 27): CSC Steel's 1H earnings were above consensus estimates, leading TA Securities to lose its bearish stance on the Malaysian cold-rolled coil maker. 

The brokerage upgrades CSC to hold from sell with an unchanged target price of RM1.10. The recent share-price weakness improves valuations and TA says the escalating trade war between the U.S. and China may further encourage global steel mills to redirect their flat steel products to other parts of the world rather than the U.S., that could benefit the likes of CSC.