Major blue-chip stocks like Maybank, CIMB, and Tenaga Nasional showed strong performances on Friday, gaining 1.2%, 0.9%, and 0.7% respectively. Investors are positioning themselves ahead of the upcoming earnings season, optimistic about these companies' profit outlooks.
Key Malaysian blue-chip stocks performed robustly in Friday's trading session. Malayan Banking Bhd (Maybank) rose 1.2% to RM9.15, CIMB Group Holdings Bhd climbed 0.9% to RM6.40, and Tenaga Nasional Bhd (TNB) advanced 0.7% to RM11.30. The strong showing from these heavyweights contributed significantly to the KLCI's overall gain. Investors are broadly anticipating solid earnings reports from these financial and utility giants in their upcoming fourth-quarter results, driven by sustained economic recovery. Market analysts highlight that banking stocks are particularly favored amidst easing inflationary pressures and expectations of stable interest rates. Furthermore, anticipated spending on infrastructure projects provides a tailwind for Tenaga Nasional.
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