Malaysia Morning Wrap | Tesla Rose More Than 8%, and Nvidia Concept Stock Cerence Rose Nearly 144%

Moomoo News MY wrote a column · Jan 6 08:58

Good morning mooers! Here are things you need to know about today's market:

So much for the Santa rally. Friday’s gain wasn’t enough to offset five days of declines.

Cautious sentiment likely to prevail on Bursa Malaysia.

Stocks to watch: Oriental Kopi,Swift,Petra.

- Moomoo News MY

Malaysia Morning Wrap | Tesla Rose More Than 8%, and Nvidia Concept Stock Cerence Rose Nearly 144%

Wall Street Summary

$S&P 500 Index (.SPX.US)$ 5,942.47(+1.26%)

$Dow Jones Industrial Average (.DJI.US)$ 42,732.13(+1.77%)

$Nasdaq Composite Index (.IXIC.US)$ 19,621.68(+0.80%)

So much for the Santa rally. The market closed higher on Friday, but it was not enough to overcome the past five sessions of declines.

Within moomoo-tracked industry themes, $NVIDIA (NVDA.US)$ portfolio companies led gains with a nearly 5% increase, driven by a 9% rise in $Arm Holdings (ARM.US)$ and a 2% increase in $SoundHound AI (SOUN.US)$.

$Tesla (TSLA.US)$ climbed 7% after a set of cautiously optimistic updates from analysts after fourth-quarter deliveries came in below consensus estimates and production fell below delivery figures.

$Bitcoin (BTC.CC)$ continued to regain ground, climbing back to $98k/coin.

Bursa Market Insight

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1629.460 (-0.21%)

Top Gainer: $PETDAG (5681.MY)$ RM20.46 (+4.39%)

Top Loser: $NESTLE (4707.MY)$ RM98.22 (-1.72%)

The local market extended its pullback for a second session at the year's start, with profit-taking seen across several blue-chip counters following year-end window dressing.

Bursa Malaysia may remain cautious this week as investors prep for a tentative 2025 start, with eyes on the Jan 20 US Inauguration, says an analyst.

SPI Asset Management's Stephen Innes warns trade protectionism could spark stagflation, impacting global growth and posing risks to Asia’s exporters. This tension could overshadow Malaysia’s bullish Q1 outlook, bringing regional uncertainty.

Stocks to Watch

Oriental Kopi Holdings Bhd launched its IPO prospectus today, en route to listing on Bursa Malaysia's ACE Market.

Swift Energy Technology Bhd, set to debut on the ACE Market next Wednesday, reported a 4QFY24 net profit of RM5.2mn on revenue of RM29.3mn.

AmBank Group extended a RM498.6mn loan to Projek Tetap Teguh Sdn Bhd, a $PTT (7010.MY)$ subsidiary, to support warehouse automation innovation in Valdor, Penang.

$PENERGY (5133.MY)$'s unit secured a five-year contract from Petronas Carigali Sdn Bhd for Pan-Malaysia offshore services, including maintenance, construction, modification, and hook-up and commissioning.

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