Major Malaysian blue-chip stocks showed mixed performance on Monday. Maybank and Petronas Gas recorded gains, while telecommunications giant Axiata Group faced pressure amid intensifying competition in the sector.
Malaysian blue-chip stocks exhibited a mixed performance on Monday. Maybank and Petronas Gas showed strength, climbing 0.8% to RM9.25 and 0.6% to RM17.80 respectively, buoyed by stable earnings outlooks and dividend expectations. However, telecommunications giant Axiata Group faced selling pressure, dropping 1.5% to RM2.70, primarily due to intensifying competition in the domestic telecom market and uncertainties surrounding potential consolidation. Investors' differing outlooks across sectors led to this divergence, with capital flowing towards companies perceived to have higher stability and growth potential.
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