Maybank's shares rose 1.2% to RM9.85, driven by market optimism regarding its regional business expansion and the recovering Southeast Asian economies. Analysts have upgraded their price targets, anticipating sustained earnings growth for the banking giant.
Malayan Banking Bhd (Maybank), Malaysia's largest bank, saw its shares perform strongly today, rising 12 sen or 1.2% to close at RM9.85 per share. This gain positioned it as one of the top performers among the FBM KLCI constituents. Market analysts highlighted that Maybank is benefiting from its extensive regional presence across Southeast Asia, particularly its robust performance in the Indonesian and Singaporean markets. With the gradual recovery of regional economies and increased trade activities, Maybank's loan growth and asset quality are anticipated to improve further. Several research houses have upgraded their target prices for Maybank, with one setting it at RM10.50 and maintaining a 'Buy' rating, citing its sound capital position and dividend-paying capability. Investors hold high expectations for its upcoming quarterly earnings report.
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