Maybank and CIMB Group saw significant gains today, rising 1.2% and 1.5% respectively, becoming key contributors to the KLCI's positive performance. This reflects strong investor confidence in the banking sector, driven by improving economic outlook and anticipated higher interest rate environment.
Malaysia's two largest blue-chip banking stocks, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, delivered impressive performances today, emerging as key drivers for the Kuala Lumpur Composite Index (KLCI). Maybank's share price climbed 1.2% to RM9.25, while CIMB Group surged 1.5% to RM6.80. The robust showing by these two banking giants reflects growing market optimism towards the financial sector, with investors anticipating improved loan growth and asset quality as economic activities rebound. Analysts generally concur that despite competitive pressures, the profitability of major Malaysian banks remains solid, and their attractive dividend yields make them compelling investment propositions in the current market climate. Energy giant Petronas Chemicals also saw a modest gain of 0.5%, further supporting the broader index.
Share: