Maybank and CIMB shares rose by 1.2% and 1.5% respectively, bolstering the KLCI. Other blue-chip counters like Tenaga Nasional also displayed stable performance, indicating investor confidence in established companies amidst broader market fluctuations and a cautious outlook on global economic recovery.
Today, Malaysia's two banking giants, Maybank and CIMB, were key drivers for the FBM KLCI. Maybank's share price rose by 1.2% to RM9.35, while CIMB climbed 1.5% to RM6.20, reflecting market optimism regarding the banking sector's earnings outlook. Tenaga Nasional also showed stable performance, closing at RM10.80, up 0.5%. Analysts believe that in the current uncertain economic environment, investors are gravitating towards blue-chip stocks with stable earnings and dividend records to mitigate risks. However, oil and gas giant Petronas Chemicals saw a slight dip of 0.3% to RM7.50.
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