Maybank and CIMB Group Holdings Bhd saw gains of 1.2% and 1.5% respectively today, leading a rally among major blue-chip stocks. The banking sector as a whole displayed robust performance, reflecting renewed investor confidence in economic recovery. This surge is also attributed to expectations of stable interest rates and healthy loan growth in the coming quarters.
Today, major Malaysian blue-chip stocks showed prominent performance, particularly within the banking sector. Malayan Banking Bhd (Maybank) saw its share price rise 1.2% to RM9.65 per share, while CIMB Group Holdings Bhd jumped 1.5% to RM6.80 per share. Other banking stocks like Public Bank Bhd also recorded a 0.8% gain. Analysts noted that the robust performance of the banking sector is driven by optimistic market expectations for the economic outlook and confidence in improving corporate earnings. As economic activities gradually return to normalcy, loan demand is anticipated to increase, and non-performing loan ratios are expected to remain stable. Furthermore, positive regional economic signals have boosted investor sentiment for financial stocks. Energy giant Petronas Chemicals Group Bhd also saw a modest rise of 0.5%.
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