Malayan Banking Bhd (Maybank) shares rose 1.2% to RM9.85 today, driven by market confidence in its robust earnings outlook and dividend policy. CIMB Group Holdings Bhd also recorded a 0.9% gain, contributing to the overall banking sector's positive performance.
Malayan Banking Bhd (Maybank) shares performed strongly today, rising 12 sen or 1.2% to close at RM9.85, with over 18 million shares traded. Market analysts are generally optimistic about the bank's performance during the current economic recovery cycle, especially concerning loan growth and asset quality improvements. CIMB Group Holdings Bhd also recorded a gain of 9 sen or 0.9%, closing at RM6.75. Tenaga Nasional Bhd saw a slight increase of 4 sen to RM11.20. However, other blue-chip stocks like Nestle (Malaysia) Bhd and Petronas Chemicals Group Bhd faced selling pressure, declining by 0.5% and 0.3% respectively. Investors are re-evaluating the value of large-cap stocks and adjusting their portfolios based on the latest macroeconomic data.
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