Naked Chart Trading: Malaysia Banking 24 Apr 2024

$Banks(BK9025.MY)$ Malaysia banking index jsut break higher high yesterday, signaled a potential further uptrend! The index move ahead of earning release, should I expect Malaysia banks to deliver outstanding results for last quarter?

$Banks(BK9025.MY)$ Daily Chart

Using moomoo heat map feature, i am looking into the industry's component stocks, so the top 5 banks by market cap as of 23 Apr 2024 closing are:
1. $MAYBANK(1155.MY)$
2. $PBBANK(1295.MY)$
3. $CIMB(1023.MY)$
4. $HLBANK(5819.MY)$
5. $RHBBANK(1066.MY)$

In my opinion, I will watch out for the events below in order to consider the trend of $Banks(BK9025.MY)$ :
1. Development of fintech (For example, $RHBBANK(1066.MY)$ related Boost digital bank is target to introduce their platform this year)

2. Competition from digital banks (There is a sign of rising digital banks in Malaysia from the positive response on launching of GX Bank, and more to come like Aeon Bank)

3. Domestic economic growth (Projects like infrastructure or SME growth will stimulate demand for loans)

4. Domestic and global interest rate policy (Will US interest rate cut bring positive impact to Malaysia banks? Or how BNM decide on OPR this year? Which can have impact on net interest margin)

Along with other macro and micro factors

Speaking of dividend yield, by referring to moomoo heat map's banking industry trailing twelve months dividend yield as of closing 23 Apr 2024, top 5 banks with high dividend yield more than 5%:
1. $MBSB(1171.MY)$
2. $RHBBANK(1066.MY)$
3. $BIMB(5258.MY)$
4. $MAYBANK(1155.MY)$
5. $ABMB(2488.MY)$

Of course in order to study further on Malaysia banks performance, got to zoom into their financial report.

Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.