Malaysian blue-chip stocks displayed mixed performance today, with financial giants like Maybank and CIMB showing strong gains. However, energy and telecommunications counters faced selling pressure. Investors are closely monitoring the ongoing corporate earnings season for further direction.
KUALA LUMPUR, Feb 5 – Major Malaysian blue-chip stocks showed mixed performance today. Maybank (MAYBANK) rose 0.8% to RM9.55, and CIMB (CIMB) gained 1.2% to RM6.80, leading the financial sector. However, Tenaga Nasional (TENAGA) fell 0.5% to RM10.20, while Digi.Com (DIGI) slipped 0.3% to RM4.05. Analysts noted that banking stocks benefited from market expectations of economic recovery and potential interest rate stability. Meanwhile, fluctuating crude oil prices weighed on energy stocks, and telcos faced intense market competition. Investors are closely watching the upcoming Q4 earnings reports to assess the profit outlook for these large corporations.
Share: