Maybank and CIMB led the KLCI blue-chip gains on Monday, rising 0.8% and 1.2% respectively. Investors anticipate strong upcoming Q4 banking earnings, supported by improved net interest margins and loan growth. Energy stocks, however, saw a mixed performance throughout the day.
Malaysia's banking giants, Maybank and CIMB, performed strongly in Monday's trading, closing at RM9.35 and RM6.70 respectively. Market optimism for the banking sector stems from expectations of economic growth in 2025 and robust loan demand. Analysts project healthy earnings growth for banks in Q4 2024, partly due to improved asset quality and prudent cost management. Other blue-chip counters like Tenaga Nasional saw a slight dip of 0.3%, while Nestle remained flat. Overall, the positive momentum in the financial sector helped offset some weakness in other heavyweights.
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