国际股市

【319股市】 Maybank shares reclaim RM9 spot

大象配资官方网站 – 319th[.]com

KUALA LUMPUR (Aug 17): Malayan Banking Bhd’s (Maybank) share price had reclaimed its RM9 spot on Wednesday (Aug 17), possibly for the first time since May 2022, after rising as much as six sen or 0.67% to RM9.03.

At Bursa Malaysia on Wednesday, Maybank’s share price closed unchanged at RM8.97 for a market capitalisation of about RM107.37 billion. Maybank shares were traded at between RM8.94 and RM9.03 during the day.

The last time Maybank’s share price closed above RM9 was on May 31, 2022 when the shares ended higher at RM9.10 from RM8.98 a day earlier (May 30).

In an interesting observation, Maybank’s rivals Public Bank Bhd and CIMB Group Holdings Bhd had also shown almost similar share-trade dynamics on Wednesday.

Public Bank closed unchanged at RM4.65, after the stock was transacted at between RM4.64 and RM4.69 during the day.

CIMB, which also ended unchanged at RM5.45, had earlier changed hands at between RM5.43 and RM5.46.

Analysts said banks have potential earnings upside due to interest rate hikes.

“We like the banks on potential earnings upside from rate hikes,” CGS-CIMB Securities Sdn Bhd analyst Ivy Ng Lee Fang wrote in a note on Tuesday (Aug 16).

“Our top pick is RHB Bank (Bhd),” Lee said.

On Wednesday, RHB’s share price closed down six sen or 1.01% at its intraday low of RM5.86, after rising to its intraday high at RM5.95.

According to Maybank’s latest foreign shareholding update on its website, the bank’s foreign shareholding stood at 17.69% as at July 31, 2022, up from 17.67% a month earlier (June 30).

On Jan 31, 2022, Maybank’s foreign shareholding stood at 16.42%, it said.

According to Maybank’s Bursa filing on April 15, 2022, the bank had indicated its latest-reported number of outstanding shares at 11.97 billion.