CIMB Group Holdings Bhd saw its share price rise 2.1% to close at RM6.30 today. The optimism stems from positive analyst reports highlighting expected strong growth in its Indonesian and Thai operations, boosting investor confidence in its regional strategy.
CIMB Group Holdings Bhd was a standout performer today, surging 2.1% or 13 sen to close at RM6.30, with a significant spike in trading volume. The regional banking giant benefited from analyst upgrades and target price revisions, driven primarily by its robust expansion in key Southeast Asian markets. MIDF Research maintained its 'Buy' rating on CIMB and raised its target price to RM7.00, citing anticipated strong loan growth and improved asset quality in its Indonesian and Thai subsidiaries. The stock's performance helped underpin the broader financial index, even as its peer Maybank saw marginal declines due to profit-taking.
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