Malaysian Stocks Close Higher Despite Regional Market Weakness

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MALAYSIA STOCK MARKET,PERTAMA DIGITAL,RINGGIT

The benchmark index in Malaysia closed up slightly on Wednesday, despite regional markets showing mixed performance and the ringgit falling to a three-session low. Pertama Digital was the biggest loser, plunging to its lowest level in two years.

At 5pm, the benchmark index closed up 2.24 points, or 0.14% to 1,641.55. after moving between an intra-day high of 1,643.82 and a low of 1,630.45.

In the broader market, there were 473 gainers against 504 losers while 545 counters were unchanged. About 3.3 billion shares, valued at RM2.5bil, changed hands.Pertama Digital hit limit down and plunged to its lowest level in two years. The counter plunged 30%, or 48 sen to RM1.12 with 715,000 shares traded.Meanwhile, Reuters reported that the ringgit and Indonesia's rupiah leading losses, after escalating tensions between Iran and Israel boosted safe-haven demand for the U.S. dollar.

The ringgit fell for a third straight session, slipping as much as 1.2% to its lowest level since Sept. 19. US West Texas Intermediate crude rose 88 cents to US$70.98 and Brent gained 81 cents to US$74.71 per barrel. On the external front, Japan’s Nikkei 225 rose 1.97% Hong Kong’s Hang Seng Index closed down 1.47%, Australia’s S&P/ASX 200 ended up 0.1% and Singapore’s Straits Times Index added 0.04%.Gold retreats as dollar firms ahead of key U.S. economic data

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