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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Market Shake-Up: NIO Soars While Stellantis Takes a Dive

 Gapping Up:

  • NIO Inc (NIO.US): Stock surged 14.4% after the Chinese electric vehicle manufacturer announced a significant $2 billion cash boost from existing shareholders.

  • CVS Health (CVS.US): Stock increased by 3.2% following reports that Glenview Capital, a major shareholder, is set to discuss potential business improvements with CVS's management.

  • AT&T (T.US): Stock rose by 1.1% after revealing plans to sell a 70% stake in DirecTV to TPG, a private equity firm, for $7.6 billion.

  • Autodesk (ADSK.US): Stock climbed 0.8% after Morgan Stanley upgraded the software company to "top pick," highlighting expected accelerations in EPS and revenue growth alongside its appealing valuation.

Gapping Down:

  • Stellantis NV (STLA.US): Stock plummeted 13.4% after the auto giant cut its annual forecasts and announced higher-than-anticipated cash burn, citing worsening industry trends and costly overhauls of its U.S. operations amid intensifying competition from Chinese electric vehicle makers.

  • Ford Motor (F.US): Stock fell by 3.3%, while General Motors (GM.US) saw a decline of 4.1%, impacted by Stellantis' remarks regarding the surge of Chinese competition in the market.

  • Boeing (BA.US): Stock dipped 0.9% following news that pay deal discussions with the International Association of Machinists and Aerospace Workers had broken off, with no further negotiation dates set.

  • Procter & Gamble (PG.US): Stock declined 0.7% after Barclays downgraded its rating to "equal weight" from "overweight," pointing to the company’s significant exposure to markets experiencing slow growth or decline, particularly in China.

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