Malaysian stocks experienced a downturn on Tuesday after a three-day gaining streak. The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) dropped 0.1% to 1,463.37.
Several companies saw a decline in their stock prices. IOI Properties Group (5249), a real estate/construction firm, posted the largest decline of 2.7%. QL Resources (7084), an agriculture company, followed closely with a decline of 2.6%. Sime Darby (4197), a business/consumer services company, also fell by 2.1%.
However, there were a few companies that stood out as leaders during the session. Mr. D.I.Y. Group (M) (5296), a retail/wholesale company, added 3.3%. Telekom Malaysia (4863), a telecommunication services firm, also showed strong performance with a 2.5% increase in their shares. Petronas Dagangan (5681), an energy company, rounded out the top three leaders on Tuesday, gaining 1.0%.
Southeast Asia and Asia-Pacific Markets
In other parts of Southeast Asia, Singapore’s FTSE Straits Times Index (STI) dropped 0.4%, while the Thailand SET Index fell 0.4%. On the other hand, the Philippines’ PSEi Index increased 0.9%, while Indonesia’s JSX Composite Index dropped 0.5%.
In the wider Asia-Pacific region, the Hang Seng Index of Hong Kong companies fell by 1.6%, Japan’s NIKKEI 225 Index fell by 1.3%, and the Shanghai Composite Index of Chinese companies remained flat.
South Korean and Australian Markets
The KOSPI Composite Index of South Korean stocks experienced a decline of 2.3%, while the S&P/ASX 200 Benchmark Index of Australian stocks declined by 0.3%.
On the currency front, the U.S. dollar climbed 0.8% to 4.67 Malaysian ringgit, while the euro climbed 0.5% to 5.00 ringgit.