Maybank's share price climbed 1.5% to RM9.55, while CIMB Group rose 1.8% to RM6.80, driven by upward revisions in analysts' earnings forecasts. The banking giants are benefiting from expectations of robust fourth-quarter results, supported by stable interest rates and healthy loan growth, positioning them as key drivers for the broader market.
Malaysia's two largest banking giants, Maybank and CIMB, displayed strong share price performance today, with Maybank climbing 1.5% to RM9.55 and CIMB rising 1.8% to RM6.80. This surge was primarily driven by analysts' optimistic outlook on their upcoming fourth-quarter earnings reports. Market consensus suggests that both banks are poised to announce robust profits, supported by a stable interest rate environment and healthy loan growth. Furthermore, investors are bullish on the banking sector's leading role in the ongoing economic recovery. The positive performance of these blue-chip stocks also provided significant support to the Kuala Lumpur Composite Index, reflecting strong market confidence in the financial sector.
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