Despite overall cautious market sentiment, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd saw modest gains on Friday. Investors are optimistic about the banking sector's resilience amid economic recovery, with both blue-chips showing strength.
Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, two of Malaysia's banking giants, demonstrated resilience in Friday's trading, with their share prices moving against the prevailing cautious market sentiment. Maybank saw a 0.5% increase to close at RM9.25, while CIMB rose by 0.3% to settle at RM6.40. This performance highlights investor confidence in the banking sector amidst broader market caution. Analysts note that with Malaysia's ongoing economic recovery and a stable interest rate environment, the earnings outlook for banks remains optimistic. Furthermore, both banks' strong regional presence provides additional growth impetus. The banking sector is expected to remain a focus during the upcoming earnings season.
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