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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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Lenovo 2Q Revenue Surges 24% on Premium PC Sales and AI Growth

Key Takeaway: Lenovo's fiscal 2Q revenue soared to $17.9 billion, driven by growing demand for AI-capable PCs and significant expansion in its server and IT solutions businesses.

BEIJING (Nov 15): Lenovo reported a 24% revenue jump for the quarter ended Sept. 30, reaching $17.9 billion and beating analysts’ expectations of $16 billion. Net profit climbed to $359 million, surpassing the $331.7 million forecast.

The company's global PC shipments rose 3% to 16.5 million units, maintaining its 24% market share, even as the broader industry saw a 2.4% decline in shipments. Demand for AI-enabled PCs is reshaping the market, with Lenovo projecting these models to account for 10% of its shipments by year-end and up to 60% by 2026.

AI Push Fuels Growth:

  • Infrastructure Solutions Group: Revenue grew over 60% year-on-year, driven by demand for AI servers in data centers.
  • Solutions and Services Group: Revenue rose to $2.2 billion, up from $1.9 billion, reflecting growth in cloud-based software solutions for enterprises.

With its recent introduction of two AI-powered PC models, Lenovo is well-positioned to benefit from the AI adoption trend, solidifying its leadership in the PC and IT solutions market.

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