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Malaysian Stocks Retreat after Three-Day Gain

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Malaysian stocks experienced a slight decline on Thursday, ending a three-day winning streak. The benchmark FTSE Bursa Malaysia KLCI FBMKLCI dropped by 0.1% to reach 1,396.23.

Leading the decline was IHH Healthcare, a health care and life sciences firm, with a 3.0% drop in its shares (5225). Energy company Petronas Dagangan (5681) closely followed, with a decline of 2.9%. Additionally, shares of Dialog Group (7277), an energy company, dropped by 1.8%.

On the other hand, AMMB Holdings (1015), a financial services company, emerged as the session’s biggest leader, seeing a 1.4% increase. Public Bank (1295), another financial services firm, gained 1.3%. Rounding out the top three leaders for the day was Genting Malaysia (4715), operating in the leisure, arts, and hospitality sector, with shares gaining 1.2%.

Moving to other parts of Southeast Asia, Singapore’s FTSE Straits Times Index (STI) increased by 2.0%, while Thailand’s SET Index added 0.2%. The Philippines’ PSEi Index experienced a 1.7% increase, while Indonesia’s JSX Composite Index remained flat.

In the wider Asia-Pacific region, Hong Kong’s Hang Seng Index surged by 2.6%, and Japan’s NIKKEI 225 Index saw a gain of 1.5%. China’s Shanghai Composite Index, representing Chinese companies, increased by 1.3%.

South Korean stocks showed positive movement, as the KOSPI Composite Index rose by 0.6%, while Australia’s S&P/ASX 200 Benchmark Index gained by 1.6%.

Regarding currencies, the U.S. dollar fell by 1.3% against the Malaysian ringgit, reaching 4.59 ringgit. Similarly, the euro fell by 1.0% to 5.12 ringgit.

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