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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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Nvidia Shares Eye $140+ Ahead of Q3 Earnings, Analyst Says Beating Expectations Is Key

Key Takeaway: Nvidia's Q3 results on Nov. 20 could push its stock above $140+ levels, but sustained momentum will depend on whether it exceeds market expectations, according to technical analyst Dr. C.K. Narayan.

Nvidia’s Performance Snapshot:

  • Year-to-Date: Shares have surged 191%, significantly outperforming the Nasdaq 100 Index’s 24% growth.
  • Recent Decline: Nvidia shares fell 2.5% in the past month, underperforming Nasdaq 100’s 0.87% gain.

Analyst Insights:

  • Dr. C.K. Narayan, NeoTrader CIO: Nvidia’s chart shows a strong trend, but supply resistance may emerge around $140+ levels. Beating Street expectations is critical for the stock to maintain its upward trajectory.
  • Joseph Moore, Morgan Stanley Analyst: Nvidia remains a top pick with an "overweight" rating. Price target revised upward from $150 to $160.

Q3 Earnings Expectations:

  • Revenue Forecast: Approximately $32.5 billion, driven by strong demand for Hopper and Blackwell GPUs.
  • Blackwell GPUs: High-demand units priced between $30,000 and $40,000, expected to boost the data center segment.
  • Supply Constraints: Limited availability of new products may cap upside potential.

Historical Earnings Trends:

  • Nvidia has exceeded EPS expectations in 10 out of the last 12 quarters and missed revenue expectations only once.
  • Stock Reactions:
    • Largest Gain: +24.4% after Q1 2024 results.
    • Largest Drop: -7.6% after Q4 2024 results.
    • Average 1-Day Movement: ±5.3% following earnings releases.

Outlook:

Nvidia's strong product demand and past performance set high expectations for Q3, but the ability to surpass those expectations will be critical in sustaining recent gains. Investors should watch for guidance on supply constraints and data center revenue growth as key indicators for future performance.

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