Malaysia's banking heavyweights, Maybank and CIMB, saw their share prices climb 1.2% and 1.5% respectively today, leading gains among blue-chip stocks. The market is holding positive expectations for their upcoming fourth-quarter earnings reports, driven by robust loan growth and improved asset quality, signalling a strong start to the year for the financial sector.
Malayan Banking Bhd (Maybank) shares rose 1.2% to RM9.35 today, while CIMB Group Holdings Bhd climbed 1.5% to RM6.70, acting as key drivers for the KLCI. Investors generally anticipate strong performance from both banks in their upcoming fourth-quarter earnings reports, largely due to accelerated loan growth and improved net interest margins. Furthermore, confidence in Malaysia's economic recovery has bolstered banking stock performance. Analysts expect banking profitability to maintain healthy growth as the interest rate environment stabilizes. Other blue-chip stocks like Tenaga Nasional Bhd also saw a modest gain of 0.5%.
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