Maybank and CIMB Group led blue-chip gains on Friday, rising 1.5% and 1.8% respectively. Analysts are bullish on the banking sector's outlook, anticipating sustained growth driven by economic recovery and stable interest rates.
Malaysia's two largest banking giants, Maybank and CIMB Group, delivered strong performances in Friday's trading, closing at RM9.55 and RM6.70 respectively. Their robust showing was a key driver for the broader KLCI's ascent. Analysts generally believe that loan growth and asset quality for banks will improve amidst Malaysia's ongoing economic recovery. Furthermore, with inflationary pressures stabilizing, Bank Negara Malaysia (BNM) is expected to maintain the Overnight Policy Rate (OPR), providing a stable environment for banks' net interest margins. Despite global economic uncertainties, resilient domestic consumption and investment are anticipated to continue supporting the banking sector's profitability. Growing investor interest in banking stocks reflects market confidence in their solid fundamentals and future growth potential.
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