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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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Apple’s iPhone Drops from China's Top Five as Local Competitors Rise

 

Apple Inc. has lost significant ground in China’s smartphone market in the June quarter, with local companies like Huawei Technologies Co. surging ahead. This marks the first time in four years that Apple has been squeezed out of the top five handset makers in the country.

Key Points:

  • Market Performance:

    • iPhone shipments in China decreased by 3.1% during the June quarter.
    • Android-powered competitors saw an 11% year-on-year rise in shipments.
    • Apple’s drop in the rankings is attributed to a slowdown in sales amid a troubled Chinese economy and a resurgence of local competitors like Huawei.

  • Research Insights:

    • IDC reported the decline, noting discrepancies between government registration data and actual deliveries to retail partners.
    • Canalys reported a 3.9% decline in iPhone shipments, while Counterpoint Research observed a 5.7% drop in sales to end users.
    • April and May showed initial growth due to the 618 shopping festival, but profitability concerns among local partners led to a slowdown in June.

  • Competitive Landscape:

    • Huawei’s shipments improved by 50%, while other local players like Vivo and Xiaomi Corp. also gained ground.
    • Apple fell to sixth place in China’s market, despite stabilizing iPhone shipments globally.
    • Apple’s CEO Tim Cook previously noted iPhone revenue growth in China for the March quarter, despite shipment estimates showing a decline.

  • Future Prospects:

    • Apple aims to ship at least 90 million iPhone 16 devices in the latter half of the year.
    • The company is targeting about 10% growth in shipments of new iPhones compared to previous models.
    • Apple is banking on artificial intelligence services to boost demand for its new lineup after a challenging 2023.

Market Position:

  • Historical Context: Apple’s current market share in China is 13.6%, significantly higher than the 8.3% share in the third quarter of 2020, with almost 40% higher shipment volume.

Outlook:

  • Apple’s strategic moves and upcoming product launches will be crucial as the company navigates a highly competitive and fluctuating market environment in China.

Apple’s performance in China’s volatile post-Covid market will be closely watched as it seeks to regain its position among the top smartphone manufacturers.

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