Malaysian Shares Recover as YTL Power International Leads Gainers

by Warren Seah

The Malaysian stock market bounced back on Friday, putting an end to its two-day losing streak. The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) showed a positive performance, rising by 0.3% to reach 1,487.34.

Gainers and Losers

During the trading session, YTL Power International (6742) emerged as the top performer, with its shares surging by 9.2%. Another notable gainer was firm YTL (4677), which witnessed a 5.4% increase in share prices. Dialog Group (7277), operating in the energy sector, secured the third spot among leaders on Friday, experiencing a 2.0% rise in shares.

On the flip side, Sime Darby Plantation (5285), an agriculture firm, faced the largest decline, with its shares falling by 2.5%. Technology company Inari Amertron (0166) also witnessed a decline of 1.3%. Similarly, shares of Tenaga Nasional (5347) dropped by 1.0%.

Southeast Asia Market Movement

In Singapore, the FTSE Straits Times Index (STI) witnessed a slight dip of 0.3%, whereas the Thailand SET Index showed a positive movement of 0.4%. The Philippines’ PSEi Index gained 0.4%, and Indonesia’s JSX Composite Index recorded an increase of 0.3%.

Market Snapshot in Asia-Pacific

Moving beyond Southeast Asia, Hong Kong stocks declined as the Hang Seng Index fell by 0.4% to rest at 16,244.58. On the other hand, Japan’s NIKKEI 225 Index showed strong gains, rising by 1.5%. The Shanghai Composite Index, representing Chinese companies, experienced a modest decline of 0.2%.

Other major indices in the region experienced mixed performance, with South Korea’s KOSPI Composite Index declining by 0.6%, and the S&P/ASX 200 Benchmark Index of Australian stocks showing a marginal decline.

Currency Update

On the currency front, the U.S. dollar climbed by 0.1% against the Malaysian ringgit, reaching 4.65 MYR. Meanwhile, the euro remained steady at 5.10 ringgit.

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