Malaysia's banking giants, Maybank and CIMB, led blue-chip gains on Friday, rising 1.8% and 1.5% respectively. Market expectations are high for strong Q4 earnings from both banks, driven by robust net interest margins and loan growth, ahead of their upcoming financial results announcements.
Blue-chip stocks on Bursa Malaysia showed robust performance today, with Maybank rising 1.8% to RM9.25 and CIMB gaining 1.5% to RM6.40. Investors are anticipating strong fourth-quarter 2023 earnings from both banking giants. Analysts expect stable net interest margins (NIM) and continued loan growth, supported by Bank Negara Malaysia's decision to maintain the Overnight Policy Rate (OPR). Furthermore, the market is optimistic about the banks' potential for growth in wealth management and transactional banking segments. Other blue-chips like Tenaga Nasional also saw a modest gain of 0.5%, while Nestle declined 0.3%, indicating a relatively flat performance for consumer stocks.
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