Major Malaysian banking stocks performed strongly today, with Maybank rising 1.2% and CIMB gaining 1.5%. The sector was buoyed by positive economic outlooks and expectations of potential improvements in net interest margins.
Malaysia's two banking giants, Maybank and CIMB, saw impressive share price gains today, rising 1.2% to RM9.35 and 1.5% to RM6.80 respectively. This propelled a strong performance across the entire banking sector, making it a key contributor to the KLCI's ascent. Investor interest in banking stocks is growing, primarily due to optimism surrounding Malaysia's economic recovery and the anticipated potential improvement in net interest margins (NIM) in the coming quarters. Furthermore, robust loan growth data has also supported positive sentiment for the sector. Analysts believe that with the pick-up in economic activity, banks' asset quality is expected to remain stable, further boosting earnings prospects.
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