The banking sector showed robust performance today, buoyed by economic recovery expectations. Conversely, technology stocks experienced a pullback after recent strong gains. The energy sector also performed well, supported by stable oil prices, indicating a rotational interest among investors towards value-oriented sectors.
Different sectors on Bursa Malaysia showed varied performances today. The banking sector emerged as a significant highlight, with the FBM Financial Services Index (FBM FINS) rising 1.1%. This was primarily driven by optimistic market expectations for 2026 economic growth and the potential for wider net interest margins. Maybank and CIMB saw gains of 1.2% and 0.7% respectively. Concurrently, the technology sector experienced a pullback after its recent strong rally, with the FBM Technology Index (FBM TECH) declining 0.9%, largely influenced by an overnight drop in US tech stocks. Investors took the opportunity to cash in profits, though the long-term outlook remains positive. The energy sector, benefiting from stable crude oil prices, saw its FBM Energy Index (FBM ENERGY) increase by 0.6%.
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