Maybank and CIMB shares rose by 1.2% and 0.9% respectively, driving a strong performance in the financial sector. Investors are showing renewed confidence in banking stocks amidst positive outlooks for interest rates and economic recovery.
Malaysia's two banking giants, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, performed strongly on Friday, rising 1.2% to RM9.85 and 0.9% to RM6.88 respectively. The robust performance of these blue-chip stocks injected momentum into the financial sector, which collectively gained 0.8%. Analysts noted that with expectations of global economic recovery and a stable domestic interest rate environment, investors are optimistic about the earnings prospects of banking stocks. Furthermore, banks' continued investment in digital transformation also provides long-term growth support. The financial sector is expected to remain a key focus for the market.
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