Home News Malaysian Stocks Rebound After Five-Day Losing Streak

Malaysian Stocks Rebound After Five-Day Losing Streak

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Malaysia’s benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) showed signs of recovery on Monday, increasing by 0.3% to reach 1,446.39. The market was lifted by the strong performance of certain key players.

YTL Emerges as Strong Contender

YTL, a leading company, stood out as the biggest gainer of the day by surging an impressive 10.7%. Investors showed great confidence in YTL, propelling its stock to the top of the leaderboard.

Key Players Amidst Market Recovery

Hap Seng Consolidated, a prominent business/consumer services firm, also contributed to the market rebound with a gain of 3.8%. Similarly, YTL Power International achieved a significant increase in their shares by gaining 3.7%.

Notable Declines

However, some companies experienced declines during the session. Dialog Group, an energy firm, was hit the hardest with a decline of 1.5%. Additionally, shares of real estate/construction company Gamuda faced a minor setback, declining 1.1%. Meanwhile, shares of telecommunication services company Axiata Group fell by 0.9%.

Southeast Asian Market Overview

In Singapore, the FTSE Straits Times Index(STI) fell by 0.8%, while Bursa Malaysia was closed for trading. The Philippines’ PSEi Index declined by 0.1%, and Indonesia’s JSX Composite Index dropped by 1.0%.

Asia-Pacific Highlights

Among other markets in the Asia-Pacific region, Hong Kong’s Hang Seng Index experienced a decline of 0.8%, but Japan’s NIKKEI 225 Index witnessed a noteworthy increase of 1.5%. Moreover, China’s Shanghai Composite Index displayed a positive trend, recording a gain of 0.7%.

Further Developments

South Korea’s KOSPI Composite Index increased by 0.3%, and Australia’s S&P/ASX 200 Benchmark Index rose by 0.1%.

Currency Update

In terms of currencies, the U.S. dollar climbed by 0.4% against the Malaysian ringgit, reaching 468.25 sen. Similarly, the euro showed an increase of 0.4% against the ringgit, with the exchange rate standing at 5.04.

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