Malaysia's banking giants, Maybank and CIMB Group, saw their share prices decline today, closing at RM9.25 and RM6.58 respectively. This movement reflects broader market sentiment and concerns over the near-term earnings growth outlook for the financial sector, despite robust economic fundamentals.
Malaysia's banking sector faced pressure today, with blue-chip counters Maybank and CIMB Group experiencing declines. Maybank shares fell 0.8% to close at RM9.25, while CIMB Group dipped 0.6% to RM6.58. Investors appeared to be taking profits after a recent strong run and remained cautious about potential impacts of slower regional economic growth on loan expansion and asset quality. Despite this, analysts generally maintain a positive long-term outlook for Malaysian banks, citing the ongoing domestic economic recovery and a relatively stable interest rate environment. Upcoming quarterly earnings reports are expected to provide clearer direction for the sector.
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