Maybank and CIMB shares fell by 1.2% and 0.9% respectively on Friday, experiencing profit-taking after recent gains. Analysts view this as a short-term correction, maintaining that their fundamental outlook remains robust. The banking sector as a whole saw some retracement following its strong performance earlier in the week.
Shares of Malaysia's two largest banking giants, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, came under pressure during Friday's trading, falling to RM9.50 and RM6.65 respectively. This pullback is largely interpreted by the market as a natural profit-taking phenomenon after a period of consecutive share price gains. Analysts generally believe that despite potential short-term technical adjustments, the fundamental outlook for the Malaysian banking sector remains robust, benefiting from the gradual domestic economic recovery and a higher interest rate environment. Investors should monitor upcoming bank earnings reports to assess their long-term growth potential.
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