Maybank (MAYBANK) rose 1.2% and CIMB (CIMB) gained 0.9%, leading a strong performance in financial stocks. Investors are optimistic about the banking sector's earnings prospects amid economic recovery. Tenaga Nasional (TENAGA) saw a slight decline, contrasting with the positive trend in financials. This indicates a selective market focus on specific sectors.
Today, major Malaysian blue-chip stocks showed mixed performance. The financial sector emerged as a market highlight, with Malayan Banking Bhd (MAYBANK) shares rising 1.2% to close at RM9.25, and CIMB Group Holdings Bhd (CIMB) recording a 0.9% gain to close at RM6.30. Investors demonstrated strong confidence in banking stocks amidst an anticipated economic recovery and a stable interest rate environment. However, utility giant Tenaga Nasional Bhd (TENAGA) saw a slight decline of 0.3%, closing at RM10.80, influenced by investor concerns over future energy policies. Other prominent counters like Petronas Chemicals Group Bhd (PCHEM) and Nestle (Malaysia) Bhd (NESTLE) traded largely flat. Analysts believe the resilience of banking stocks will continue to provide support for the broader index.
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