Maybank and CIMB led blue-chip gains on Friday, rising 1.2% and 0.9% respectively, as investors favored financial stocks. Conversely, energy giants like Tenaga Nasional and Petronas Gas faced selling pressure, with Tenaga down 0.5% and Petronas Gas dropping 0.8%, due to fluctuating crude oil prices and concerns over global demand, creating a mixed sentiment among investors.
Major Malaysian blue-chip stocks showed a mixed performance in Friday's trading. Maybank rose 1.2% to RM9.80, and CIMB gained 0.9% to RM6.65, as investors favored these banking stocks due to optimism about their earnings outlook. However, the energy sector faced headwinds. Tenaga Nasional declined 0.5% to RM10.90, while Petronas Gas dropped 0.8% to RM17.30. This was primarily attributed to volatility in international crude oil prices and concerns over global energy demand. Although technology stocks like Maxis saw a modest gain of 0.3%, the overall market was dragged down by the energy sector's decline, indicating a rotation of funds among different sectors by investors.
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