Malaysian Stocks Decline for Fourth Consecutive Session

The Malaysian stock market continued its decline for the fourth consecutive session on Friday. The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) dropped by 0.5% to reach 1,445.18.

Declining Stocks

Among the declining stocks, YTL Power International (6742) experienced the largest decline, falling by 2.7%. Following closely behind was Axiata Group (6888), a telecommunication services company, with a decline of 2.0%. Mr. D.I.Y. Group (M) (5296), a retail/wholesale company, also witnessed a decline of 1.9%.

Leaders in the Market

On the other hand, Westports Holdings (5246), a transportation/logistics company, emerged as the biggest leader during the session, gaining 2.4%. Financial services firm AMMB Holdings (1015) also experienced growth, gaining 1.0%. Malaysia Airports Hldgs (5014), operating in the transportation/logistics sector, rounded out the top three leaders on Friday, with shares rising by 0.3%.

Southeast Asia Market Update

In other parts of Southeast Asia, the FTSE Straits Times Index (STI) in Singapore fell by 0.9%. The Thailand SET Index declined by 0.8%, while the Philippines' PSEi Index dropped by 0.4%. Similarly, Indonesia's JSX Composite Index witnessed a decline of 0.4%.

Asia-Pacific Market Performance

Moving to the Asia-Pacific region, Hong Kong stocks saw a decline, with the Hang Seng Index down by 1.8% to reach 17,203.26. Japan's NIKKEI 225 Index also fell by 0.2%. Additionally, the Shanghai Composite Index of Chinese companies witnessed a decline of 0.5%.

Decline in South Korea and Australia

The South Korean KOSPI Composite Index dropped by 0.7%, while the S&P/ASX 200 Benchmark Index of Australian stocks declined by 0.5%.

Currency Update

In the currency market, the U.S. dollar climbed by 0.3% to reach 4.71 Malaysian ringgit, and the euro also experienced a climb of 0.3% to reach 5.02 ringgit.