News

Malaysian Stocks Continue to Rise

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Andrew R. Michaud

• December 15, 2023

The Malaysian stock market extended its winning streak on Friday, marking the fifth consecutive session of gains. The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) rose 0.4% to reach 1,462.45.

Movers and Shakers

Transportation/logistics company Malaysia Airports Hldgs (5014) emerged as the top gainer of the session, with its stock surging by 3.8%. Real estate firm KLCC Property Holdings (5235SS) also performed well, adding 3.5% to its share value. Meanwhile, Petronas Gas (6033), an operator in the energy sector, secured the third spot among the session's leaders, with its shares rising by 3.1%.

On the other hand, PPB Group (4065) experienced the largest decline of the day, seeing its stock fall by 1.4%. Fraser & Neave Holdings (3689), a company in the same category, witnessed a drop of 0.9%. Financial services firm Malayan Banking (1155) also saw a slight decline of 0.6%.

Stock Movement in Southeast Asia

Moving on to other parts of Southeast Asia, Singapore's FTSE Straits Times Index (STI) decreased by 0.3%, while Thailand's SET Index rose by 0.7%. The Philippines' PSEi Index had a notable increase of 1.1%, and Indonesia's JSX Composite Index also experienced a modest growth of 0.2%.

Asian Markets Overview

The Asia-Pacific region saw various market movements as well. Hong Kong's Hang Seng Index gained a solid 2.4%, and Japan's NIKKEI 225 Index rose by 0.9%. However, China's Shanghai Composite Index experienced a decline of 0.6%.

In South Korea, the KOSPI Composite Index recorded a positive gain of 0.8%, while Australia's S&P/ASX 200 Benchmark Index increased by 0.9%.

Currency Update

As for the currency market, the U.S. dollar maintained its stability against the Malaysian ringgit, with the exchange rate remaining at 4.67. On the other hand, the euro saw a slight decline of 0.3%, bringing its value against the ringgit to 5.12.