Ahmad Fidauddin wrote a post · May 6 03:13

Weekly Sharing 6 May 2024

US Stock Market Review 29 Apr - 03 May 2024

- $Dow Jones Industrial Average (.DJI.US)$ 1.18%, $NASDAQ (NASDAQ.US)$1.99%, $S&P 500 Index (.SPX.US)$1.26%

- A surge in $Tesla (TSLA.US)$ shares followed regulatory approval in China for its Full Self-Driving technology.

- Federal Reserve’s meeting resulted in no rate hikes- Information Technology sector saw the largest gains, increasing by 1.6%, influenced by positive earnings reports and tech advancements.

- Event to watch: 7 May Consumer Credit, 9 May Initial Jobless claim, 10 May Monthly U.S Fed’s Budget

MY Stock Market Review 29 Apr - 03 May 2024

- The $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ (+0.59%) ended higher, closing at 1,589.59 (+9.29)

- Notable sector performance: Utilities sector increased by 1.53%, driven by $TENAGA (5347.MY)$ (+30.0 sen) and $YTLPOWR (6742.MY)$ (+18.0 sen)

- Event to watch: 9 May MY Interest Rate, 10 May MY Industrial Production (YoY), MY Unemployment Rate

Stock of the week

$BURSA (1818.MY)$ - Price TrendBursa Malaysia’s stock performance has been robust, reflecting strong activity in the Malaysian stock market. The stock closed at MYR 7.68 on Friday, appreciating by 11% throughout 2024. Additionally, a dividend of 14 cents was paid out in February, bringing the total return for the year to 13%. The company reported a net profit of RM75 million for the first quarter of 2024, a significant rise from previous quarters and the highest first-quarter profit since 2021, when the profit was RM121 million.

- Company ProfileBursa Malaysia Berhad operates as a fully integrated exchange, offering a complete range of exchange-related services. It is pivotal in the Malaysian financial market, providing platforms for trading, clearing, settlement, and depository services.

- Latest EarningsThe first quarter of 2024 has seen Bursa Malaysia posting strong financial numbers with a net profit surge of 34%, setting an optimistic tone for meeting its targets for the rest of the year. This financial uptick is accompanied by a high performance in the KLCI index and significant trading volumes, signaling strong market confidence.

- Recent DevelopmentBursa Malaysia has been proactive in capitalizing on the positive momentum in the Malaysian stock market, which has seen key indices like the KLCI hitting 1,589 mark making it highest in two years. The overall market performance has been bullish with record highs in other indices as well, benefiting Bursa Malaysia’s operations and stock value.

Factors to Watch:

Opportunities:

- Market Growth: With the Malaysian stock market performing well, Bursa Malaysia is well-positioned to benefit from increased trading volumes and associated fees.

- Strategic Initiatives: Continuous efforts to innovate and improve market operations can further enhance its attractiveness to both local and international investors.

Risks:-

- Market Volatility: While the current trend is positive, stock markets are inherently volatile, and unexpected downturns could affect performance.

- Regulatory Changes: Any significant changes in financial market regulations could impact trading volumes and operational costs.

Given the current economic climate and Bursa Malaysia’s strategic position in the Malaysian financial market, the stock presents a promising outlook. The company’s recent earnings and overall market performance suggest a strong potential for continued growth, making it an interesting stock to watch for the week.

Video

And for today’s Hands-on teaching, bring you “The Simulated Success: How Paper Trading Builds Real World Confidence”

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