Banking stocks fall as political overtures rattle market
KUALA LUMPUR (Feb 24): Index-linked banking stocks on Bursa Malaysia fell across the board this morning following the political uncertainties arising from events during the weekend.
At 10.50am, Public Bank Bhd lost 3.3% or 58 sen to RM17.56, RHB Bank Bhd fell 2.63% or 15 sen to RM5.56, CIMB Group Holdings Bhd was down 2.4% or 12 sen to RM4.88, Malayan Banking Bhd fell 1.66% or 14 sen to RM8.27, while AMMB Holdings Bhd was down 1.05% or 4 sen to RM3.77.
The Edge Financial Daily today reported that the nation’s political landscape could see a major tectonic shift in power in the coming days with a new coalition taking shape which sees the end of Pakatan Harapan.
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