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Malaysian Stocks Continue to Rise

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Malaysian stocks saw another increase for the second consecutive session on Friday. The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) rose by 0.7% to 1,449.93.

Key Contributors

During the session, the telecommunications services company Axiata Group (6888) emerged as the top gainer with a 2.6% increase. Genting (3182), a firm in the leisure, arts, and hospitality industry, also performed well, with a rise of 2.2%. Sime Darby (4197), operating in the business and consumer services sector, secured the third spot among the top gainers, experiencing a 2.2% surge in its share price.

Decliners

Westports Holdings (5246), a transportation and logistics company, witnessed the most significant decline, with a drop of 1.2%. Gamuda (5398), a real estate and construction company, followed suit with a decrease of 0.6%. Meanwhile, shares of YTL Power International (6742) dropped by 0.4%.

Trends in Southeast Asia

Singapore’s FTSE Straits Times Index (STI) gained 2.0%, while Thailand’s SET Index rose by 1.1%. The Philippines’ PSEi Index experienced a 0.3% increase, and Indonesia’s JSX Composite Index went up by 0.6%.

Asia-Pacific Markets

Hong Kong’s Hang Seng Index saw a significant jump of 2.5%, while Japan’s Tokyo Stock Exchange remained closed during this period. The Shanghai Composite Index, representing Chinese companies, added 0.7%.

South Korea’s KOSPI Composite Index also witnessed growth, with South Korean stocks increasing by 1.1%. Similarly, Australia’s S&P/ASX 200 Benchmark Index saw a gain of 1.1%.

Currency Updates

In terms of currency, the U.S. dollar fell by 0.5% against the Malaysian ringgit, resulting in an exchange rate of 4.73 MYR. The euro, on the other hand, decreased by 0.4%, equating to a rate of 5.03 MYR.

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