Maybank shares rose 1.8% and CIMB gained 2.1%, becoming key drivers for the KLCI's ascent. Investors are optimistic about the banking sector's earnings outlook, anticipating stable net interest margins and robust loan growth. This positive sentiment reflects broader confidence in Malaysia's economic recovery and financial stability.
Malaysia's two largest banking giants, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, led the blue-chip gains on Thursday, rising 1.8% to RM9.25 and 2.1% to RM6.80 respectively. The robust performance of these two stocks significantly contributed to the overall rise of the Kuala Lumpur Composite Index (KLCI). Investors are optimistic about the banking sector's earnings outlook, anticipating healthy loan growth and stable Net Interest Margins (NIM) amidst recovering economic activities. Furthermore, easing concerns over banks' asset quality have bolstered investor confidence. Analysts suggest that banking stocks are poised to continue outperforming the broader market as corporate and consumer confidence returns.
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