Malaysian stocks managed to bounce back on Friday, putting an end to a three-day losing streak. The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) rose by 0.5% to reach 1,486.37.
Top Gainers
During the session, Sunway Bhd (5211), a prominent real estate and construction company, took the lead with a significant increase of 4.7%. Meanwhile, IOI Properties Group (5249), another player in the real estate/construction sector, experienced a growth of 3.8%. YTL (4677), functioning in the same space, secured the third spot among the top performers on Friday, as its shares rose by 2.3%.
Biggest Decliners
However, not all companies fared well. Dialog Group (7277), an energy firm, suffered the largest decline, dropping by 2.7%. Telecommunication services company TIME dotCom (5031) also experienced a decline of 0.9%. Leisure/arts/hospitality company Genting (3182) saw its shares fall by 0.6%.
Southeast Asia Snapshot
Looking at other parts of Southeast Asia, Singapore's FTSE Straits Times Index (STI) increased by 0.3%, while Thailand's SET Index gained 0.3%. On the other hand, the Philippines' PSEi Index fell by 0.1%, and Indonesia's JSX Composite Index declined by 0.4%.
Asia-Pacific Market Overview
Moving on to the broader Asia-Pacific region, Hong Kong's Hang Seng Index slid by 0.5%. However, Japanese companies experienced gains, with the NIKKEI 225 Index rising by 1.4%. Chinese companies did not fare as well, as the Shanghai Composite Index declined by 0.5%.
South Korean and Australian Markets
In South Korea, the KOSPI Composite Index experienced a significant rise of 1.3%. Likewise, Australian stocks showed strength, with the S&P/ASX 200 Benchmark Index gaining 1.0%.
Currency Movement
On the currency front, the U.S. dollar remained steady at 4.72 Malaysian ringgit, while the euro climbed by 0.1% to reach 5.13 ringgit.
