Maybank shares rose 1.2% and CIMB Group gained 1.5%, leading the financial sector higher. Market expectations of stable interest rates and economic growth are anticipated to support bank profitability. This positive sentiment reflects investor confidence in the resilience of Malaysia's banking industry amidst evolving economic conditions.
Key Malaysian blue-chip stocks, particularly in the banking sector, performed strongly in Friday's trading. Maybank shares climbed 1.2% to RM9.25, while CIMB Group recorded a 1.5% gain, closing at RM6.50. Other financial counters like Public Bank and RHB Bank also saw modest increases. Analysts noted that despite global economic uncertainties, the fundamentals of Malaysia's banking sector remain robust, with non-performing loan ratios staying at manageable levels. Investors are optimistic about the banks' role in the economic recovery, anticipating continued loan growth. Furthermore, market expectations for Bank Negara Malaysia to maintain the Overnight Policy Rate (OPR) have also bolstered banking stock performance.
Share: