Malaysian Stocks Fall, Axiata Group and CELCOMDIGI Decline

by Warren Seah

The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) experienced a 0.2% drop to 1,454.66, bringing an end to its two-day gaining streak on Friday.

Telecommunication services firm, Axiata Group, saw the largest decline with a 1.7% drop. Shares of telecommunication services company CELCOMDIGI also declined by 1.2%. Additionally, company Nestle (Malaysia) experienced a 1.2% drop.

Top Performers in Malaysian Stock Market

Sunway Bhd, a real estate/construction company, emerged as the biggest leader during the session, with an increase of 1.5%. Real estate firm KLCC Property Holdings gained 0.6%, followed by Hong Leong Bank, which operates in the financial services space, with a 0.4% increase.

Market Update from Southeast Asia

Singapore’s FTSE Straits Times Index showed a gain of 0.7%, while Bursa Malaysia remained closed. On the other hand, the Philippines’ PSEi Index fell by 1.1%, and Indonesia’s JSX Composite Index dropped by 0.4%.

Performance in Asia-Pacific Region

Hong Kong’s Hang Seng Index remained flat. In Japan, the NIKKEI 225 Index experienced a decline of 0.2%. Meanwhile, the Shanghai Composite Index of Chinese companies gained 0.7%.

Australian Stocks Experience a Fall, Currencies Decline

The S&P/ASX 200 Benchmark Index of Australian stocks fell by 0.3% to reach 7,590.80. South Korea’s Korea Exchange was closed.

On the currency front, the U.S. dollar fell by 0.3% to 459.50 Malaysian sen, while the euro experienced a 0.4% decline to 5.08 ringgit.

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