Malaysian Stocks Drop 0.5% After Two-Day Winning Streak

The benchmark FTSE Bursa Malaysia KLCI (FBMKLCI) ended Tuesday on a downward trend, dropping by 0.5% to 1,493.87.

Decliners

YTL Power International (6742) experienced the largest decline with a drop of 4.7%. Following closely behind was YTL (4677), with a decrease of 4.6%. Hap Seng Consolidated (3034), a business/consumer services company, also saw a decrease of 2.1%.

Leaders

During the session, IOI Properties Group (5249), a real estate/construction company, emerged as the biggest leader with a 1.0% increase. Press Metal Aluminium (8869), a basic materials/resources firm, followed suit with a 0.6% increase. Fraser & Neave Holdings (3689), operating in a similar space, completed the top three leaders on Tuesday with shares increasing by 0.6%.

Southeast Asia

In other parts of Southeast Asia, Singapore's FTSE Straits Times Index (STI) declined by 0.5%, while the Thailand SET Index (SET) dropped by 0.3%. The Philippines' PSEi Index (PSEI) experienced a decline of 0.7%, while Indonesia's JSX Composite Index (JAKIDX) rose by 0.3%.

Asia-Pacific Region

Hong Kong stocks declined, with the Hang Seng Index (HSI) down by 2.2% to 15,865.92, while the NIKKEI 225 Index (NIK) of Japanese companies decreased by 0.8%. On the other hand, the Shanghai Composite Index (SHCOMP) of Chinese companies rose by 0.3%.

The KOSPI Composite Index (180721) of South Korean stocks fell by 1.1%, while the S&P/ASX 200 Benchmark Index (XJO) of Australian stocks also declined by 1.1%.

Currency Movements

On the currency front, the U.S. dollar (USDMYR) climbed 0.4% to 4.69 Malaysian ringgit, while the euro (EURMYR) fell 0.1% to 5.11 ringgit.