Major Malaysian blue-chip stocks displayed mixed performance on Friday. Maybank led gains on optimistic earnings outlooks, while Tenaga Nasional faced downward pressure due to concerns over rising fuel costs and regulatory uncertainties.
Major Malaysian blue-chip stocks exhibited mixed performance on Friday. Malayan Banking Bhd (Maybank) saw its share price rise by 0.4% to RM9.55, driven by positive market expectations for its upcoming Q1 FY2025 earnings, with analysts anticipating stable net interest margins. CIMB Group Holdings Bhd also gained 0.6% to RM6.80. However, Tenaga Nasional Bhd (TNB) shares fell by 0.8% to RM11.20, primarily impacted by fluctuating fuel costs and uncertainties surrounding government subsidy policies. Investors remain cautious about the short-term outlook for energy stocks. Petronas Chemicals Group Bhd (PCG) edged down 0.2% to RM7.10, influenced by a slight pullback in international oil prices. Overall, financial stocks demonstrated stronger resilience in the current environment.
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