Key banking stocks like Maybank and CIMB showed strong performance on Friday, rising 1.8% and 1.5% respectively, becoming the primary drivers for the FBM KLCI's ascent. Investors are optimistic about the banking sector's earnings outlook, anticipating continued growth and stable asset quality in the coming quarters. This positive sentiment reflects broader confidence in Malaysia's economic recovery.
Malaysian blue-chip stocks displayed a strong performance on Friday, particularly within the financial sector. Maybank's share price climbed 1.8% to RM9.25, while CIMB also recorded a 1.5% gain, closing at RM6.30. The robust performance of these two banking giants contributed significantly to the FBM KLCI's overall increase. Analysts highlighted that the rise in banking stocks reflects market confidence in Malaysia's economic recovery, alongside expectations of improved net interest margins and stable asset quality for banks. Furthermore, other blue-chip counters like Tenaga Nasional also saw a modest increase of 0.5% to RM10.10, indicating a generally positive market sentiment.
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