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Malaysian Stocks Continue to Slide

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Malaysian shares witnessed a drop for the third consecutive session on Thursday, with the benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) falling by 0.4% to reach 1,452.27.

Declining Stocks

Nestle (Malaysia) (4707) recorded the largest decline, with a drop of 2.2%. Telecommunication services company Maxis (6012) experienced a decrease of 1.7%, closely followed by Petronas Chemicals Group (5183), a basic materials/resources company, which saw its shares drop by 1.5%.

Stocks that Gained

During the session, YTL Power International (6742) emerged as the biggest gainer, with a 2.0% increase. Firm YTL (4677) also experienced a rise of 2.0%. Hap Seng Consolidated (3034), operating in the business/consumer services space, secured its position in the top three leaders on Thursday, with shares increasing by 1.9%.

Southeast Asia Market Movements

In other parts of Southeast Asia, Singapore’s FTSE Straits Times Index (STI) added 0.2%, while Thailand SET Index declined by 0.5%. The Philippines’ PSEi Index increased by 0.5%, and Indonesia’s JSX Composite Index witnessed a similar growth of 0.5%.

Asia-Pacific Region Market Update

Hong Kong’s Hang Seng Index declined by 0.3%, while Japan’s NIKKEI 225 Index observed an increase of 1.5%. The Shanghai Composite Index of Chinese companies remained flat at zero growth.

South Korean stocks saw a rise with the KOSPI Composite Index going up by 0.2%, whereas Australia’s S&P/ASX 200 Benchmark Index added 0.3%.

Currency Update

On the currency front, the U.S. dollar climbed up by 0.2% to 4.69 Malaysian ringgit, and the euro also experienced a rise of 0.1%, reaching 5.02 ringgit.

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