The rally was built on expectations for "Abenomics, " the economic revitalization plan by the prime minister, which includes record amounts of cash from the Bank of Japan, helping to buoy equities.
Evercore Partners analyst Andrew Marquardt maintains his overweight rating on the stock and highlights the revised capital plan the bank will be submitting to the Federal Reserve, which will determine its ability to deploy cash to shareholders, as a factor to watch.
Aussino said the exchange also expressed reservations about Aussino's future access to land critical to its operations citing Myanmar's ban on foreign ownership of land and its post-merger plan to deposit 65% of its cash in Mr. Zaw Zaw's own Ayeyarwady Bank, which also is subject to U.S. sanctions.