Malaysian Banks Gain as Tech Stocks Fall Amid Global Sell-Off
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
On October 13, 2026, financial heavyweights saw gains as traders flocked into the sector during a global technology sell-off. The FBM KLCI rose slightly to 1,620.4, while the financial services sector gained 0.93%. Maybank rose to RM10.04, CIMB gained to RM7.44, and Public Bank reached RM4.69. Technology shares plunged 4.46% following reports of progress by China's CXMT in chip technology.
From thestar.com.my
Why it matters
The gains in Malaysian financial stocks occurred despite overall market weakness, which was driven by a sharp sell-off in technology shares globally. This movement highlights investor rotation away from tech and into banking stocks during periods of geopolitical risk and chip sector uncertainty.
From thestar.com.my
Who's involved
- MaybankMalaysian universal bank whose shares rose on the day.
- CIMBMalaysian financial company whose shares gained on the day.
- Public BankLicensed bank whose shares added value on the day.
- Bursa MalaysiaThe exchange where Maybank and Public Bank are listed.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Public BankSpeculative
Public Bank may experience a direct stock price gain due to shifts in market sentiment.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Maybank
Malaysian universal bank
Nothing else this week.
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CIMB
Malaysian financial company
Nothing else this week.
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Public Bank
licensed bank in Hong Kong
Nothing else this week.