Malaysian shares continued their downward spiral for the fifth consecutive session on Friday, with the benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) experiencing a 0.1% decline to 1,441.97.
Declining Stocks
Energy company Petronas Dagangan (5681) saw the largest decline, dropping 1.8%, followed by telecommunication services company CELCOMDIGI (6947), which fell 1.7%. Meanwhile, shares of Maxis (6012), another telecommunication services company, witnessed a 1.3% decrease.
Market Leaders
Despite the overall negative trend, a few companies managed to emerge as market leaders during this session. YTL (4677), a distinguished firm, experienced an impressive increase of 9.7%. YTL Power International (6742) also saw a significant rise of 6.6%. Furthermore, Hap Seng Consolidated (3034), operating in the business/consumer services space, concluded the top three leaders on Friday with a 2.8% increase.
Southeast Asia Market Overview
In other parts of Southeast Asia, Singapore’s FTSE Straits Times Index saw a boost of 1.1%, while Thailand’s SET Index closed at a flat rate. The stock exchange in the Philippines remained closed for the day, and Indonesia’s JSX Composite Index experienced a modest increase of 0.4%.
Asia-Pacific Stock Market Movements
In Hong Kong, stocks took a hit as the Hang Seng Index experienced a 0.1% decline to 16,334.37. Japanese companies faced a similar fate, as the NIKKEI 225 Index dropped 1.7%. However, Chinese companies saw some gains, with the Shanghai Composite Index witnessing a 0.1% increase.
Meanwhile, the KOSPI Composite Index in South Korea boasted a solid 1.0% increase, and Australia’s S&P/ASX 200 Benchmark Index recorded a positive growth rate of 0.3%.
Currency Performance
On the currency front, the U.S. dollar fell 0.2% against the Malaysian ringgit, reaching 4.66 ringgit, while the euro also experienced a decline of 0.4%, amounting to 5.03 ringgit.