News

Malaysian Stocks Surge

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Charles M. Hall

• February 20, 2024

Malaysian Stocks Continue to Rise

Malaysian stocks soared for the third straight day on Tuesday, with the benchmark FTSE Bursa Malaysia KLCI FBMKLCI climbing 1.1% to 1,555.59.

Leaders of the Day

• Dialog Group (7277) led the charge, surging 18.3% in the energy sector.
• Sime Darby (4197), a business/consumer services firm, followed closely with a 4.8% gain.
• Petronas Chemicals Group (5183) rounded out the top three leaders with a 3.7% increase in the basic materials/resources sector.

Decliners

• IOI Properties Group (5249), a real estate/construction firm, posted the largest decline at 0.9%.
• MISC (3816), a transportation/logistics company, followed with a 0.7% drop.
• KLCC Property Holdings (5235SS) also declined by 0.7% in the real estate sector.

Southeast Asia Overview

• Singapore: FTSE Straits Times Index STI rose by 0.4%.
• Thailand: SET Index SET dropped by 0.5%.
• Philippines: PSEi Index increased by 0.8%.
• Indonesia: JSX Composite Index rose by 0.8%.

Asia-Pacific Region Market Overview

• Hong Kong: Hang Seng Index added 0.6%.
• Japan: NIKKEI 225 Index dropped by 0.3%.
• China: Shanghai Composite Index rose by 0.4%.
• South Korea: KOSPI Composite Index declined by 0.8%.
• Australia: S&P/ASX 200 Benchmark Index fell by 0.1%.

Currency Market Update

The U.S. dollar climbed 0.2% against the Malaysian ringgit, reaching 4.80, while the euro also saw a 0.3% increase to 5.18 ringgit.