Malaysian shares extended their winning streak for the fourth consecutive session, showcasing the resilience of the market. The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) surged 0.6% to 1,456.26, reflecting positive investor sentiment.
YTL (4677) emerged as the frontrunner during the session, experiencing a notable 2.7% increase. The company’s positive performance contributed significantly to the overall market gain. Following closely, agriculture firm QL Resources (7084) saw a commendable rise of 2.3%, positioning itself as another major contributor to the day’s success. Petronas Gas (6033), operating in the energy sector, rounded out the top three gainers with a 2.3% increase in its share value.
On the flip side, Westports Holdings (5246), a key player in transportation and logistics, posted the largest decline of the day, experiencing a 2.8% drop in its share value. Additionally, shares of PPB Group (4065) dipped by 0.7%, contributing to the day’s mixed market performance. Retail/wholesale company Mr. D.I.Y. Group (M) (5296) also saw a 0.7% decrease in its share value.
Beyond Malaysia, other Southeast Asian markets displayed positive momentum. Singapore’s FTSE Straits Times Index (STI) rose by 0.7%, while the Thailand SET Index increased by an impressive 1.5%. The Philippines’ PSEi Index added 2.5%, and Indonesia’s JSX Composite Index recorded a 1.4% gain.
In the broader Asia-Pacific region, Hong Kong’s Hang Seng Index (HSI) increased by 1.1%, contrasting with Japan’s NIKKEI 225 Index, which fell by 0.7%. The Shanghai Composite Index of Chinese companies experienced a modest 0.3% drop. South Korea’s KOSPI Composite Index gained 1.3%, and Australia’s S&P/ASX 200 Benchmark Index increased by 1.7%.
On the currency front, the U.S. dollar (USDMYR) fell by 0.7% against the Malaysian ringgit, settling at 4.67 ringgit. The euro (EURMYR) also experienced a slight decline of 0.4%, reaching 5.10 ringgit.
As global markets continue to navigate various economic factors, Malaysian investors remain optimistic about the sustained positive trajectory. The diverse performance across sectors and regions underscores the dynamic nature of the current financial landscape.
(Source: MarketWatch)
