Key Malaysian blue-chip stocks, particularly banking giants Maybank and CIMB, faced selling pressure in Friday's trading session, dragging down overall market performance. Investors exhibited caution, leading to profit-taking in these traditionally stable counters.
KUALA LUMPUR, March 14 – Blue-chip stocks on Bursa Malaysia faced pressure on Friday, with Malayan Banking Bhd (Maybank) declining 0.8% to RM9.25 and CIMB Group Holdings Bhd slipping 0.7% to RM6.50. The subdued performance of these two financial giants significantly weighed on the FBM KLCI. Analysts noted that despite the banking sector's solid fundamentals, concerns over a global economic slowdown prompted some investors to engage in profit-taking. Tenaga Nasional Bhd, however, remained relatively stable, closing at RM11.80. The market generally expects investors to closely monitor the earnings guidance from these large corporations during the upcoming reporting season.
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