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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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What to Expect From PDD Holdings’ Q3 Earnings Report

Key Takeaway: PDD Holdings (NASDAQ) will release its Q3 2024 earnings on November 21, 2024, before markets open. Analysts forecast strong revenue and earnings growth, driven by its e-commerce business and the success of the Temu platform.

Consensus Estimates:

  • Revenue: Projected at 103.70 billion CNY, up 50.64% year-over-year (YoY).
  • Earnings Per Share (EPS): Estimated at 19.77 CNY, a rise of 86.47% YoY.

Key Drivers of Growth:

  1. E-Commerce Momentum:

    • PDD’s innovative group-buying model and integration with social media have gained traction.
    • Online marketing services revenue: Expected to grow 23.78% YoY to 49.12 billion CNY.
    • Transaction services revenue: Forecasted to rise 81.84% YoY to 53.01 billion CNY.

  2. Temu Platform Strength:

    • Temu sales: Estimated at $54 billion for 2024, up from $15.33 billion in 2023.
    • Global Expansion: Temu’s rapid growth diversifies PDD’s revenue streams, reducing reliance on the Chinese market.

  3. Investor Confidence:

    • David Tepper’s Appaloosa Management increased its PDD holdings by 3.36 million shares in Q3.
    • Freemont Capital raised its stake by 23.8%, and Vanguard Group expanded its position to 24.26 million shares.

Options Market Insights:

  • Volatility Trends:
    • PDD’s earnings reactions have been more volatile than market predictions, with actual moves averaging 14.4% versus the expected ±11.7% over the last 13 quarters.
    • Bullish Sentiment: A lower 25-Delta Put-Call Spread suggests stronger demand for upside calls than downside puts.

Challenges and Stock Performance:

  • PDD’s stock has declined 22% year-to-date, lagging behind broader indices.
  • Despite this, analysts are optimistic about its long-term growth potential, supported by its expanding e-commerce ecosystem and Temu's international success.
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