Banking stocks continue to lead Malaysian stocks, with 4 of the 10 listed companies with the highest market capitalization in Malaysia being banks.
Bank Negara’s interest rate hike in July has had a stimulating effect on bank stocks, with share prices rising. As of early August, the market capitalization of Maybank was RM105.935 billion, compared to RM102.822 billion in July, a considerable increase in market capitalization.
Public Bank (Public Bank) continues to maintain its position as the second largest bank in terms of market capitalization, with a market capitalization of RM89.483 billion in August, compared to RM84.825 billion last month. Other banking stocks such as CIMB and Hong Leong Bank had market capitalization of RM54.885 billion and RM45.132 billion respectively.
The market capitalization of Petronas Chemicals, however, has decreased due to the volatility of international oil prices, with a market capitalization of RM70.560 billion. IHH Healthcare’s share price has also evaporated in August, with a market capitalization of RM56.876 billion.
The 10 largest market capitalization ranking of horse stocks
1. Maybank (RM105.935 billion)
2. Public Bank (RM89.483 billion)
3. Petronas Chemicals (RM70.560 billion)
4. IHH (RM56.876 billion)
5. CIMB (RM54.885 billion)
6. Tenaga Nasional (RM48.096 billion)
7. Hong Leong Bank (RM45.132 billion)
8. Press Metal Aluminum (RM40.457 billion)
9. Petronas Gas (RM34,232 million)
10. MISC (RM32,005 million)