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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day.  The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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Social Buzz: Reddit’s WallStreetBets Stocks Heat Up Premarket

Reddit’s favorite stocks were making waves on Monday morning, with Micron Technology and MicroStrategyleading the gains among the most-discussed tickers in the WallStreetBets subreddit.

Top Movers Premarket

  • Micron Technology (MU): Shares climbed 7% premarket, adding to Friday’s 4.3% gain. Investors are looking ahead to Wednesday's earnings report, which could provide clarity on the memory and storage market’s trajectory.
  • MicroStrategy (MSTR): Stock rose 5.6% premarket, extending a 4.2% gain from Friday. Optimism around Bitcoin’s recent rally above $100,000 is fueling interest in the crypto-exposed company.
  • Broadcom (AVGO): Shares edged up another 2% premarket, continuing Friday’s massive 24% surge on robust AI chip demand projections.

Notable Declines

  • Super Micro Computer (SMCI): Fell over 12% premarket, following a 3.9% loss on Friday, as concerns over cooling demand for AI hardware weigh on the stock.
  • Palantir (PLTR): Dropped 4% premarket, despite Friday's 3.9% rise and news of its addition to the Nasdaq 100 index.

Mixed Performances in Tech

  • NVIDIA (NVDA): Continued to slide, falling 0.5% premarket after a 2.3% decline on Friday, as investors weigh valuation concerns amid its stellar run this year.
  • AMD (AMD): Up 0.6% premarket, rebounding from a 2.8% loss on Friday.
  • Tesla (TSLA): Added 0.6% premarket, building on Friday's 4.3% rally, as investor sentiment remains strong following the company’s positive outlook on EV demand.

Key Takeaway

The WallStreetBets favorites are seeing mixed movements as earnings anticipation and AI-related catalysts continue to dominate the conversation. Stocks like Micron Technology and Broadcom are benefiting from optimism in their sectors, while others like Palantir and Super Micro Computer are facing headwinds despite recent gains. Investors will be closely watching earnings updates and broader market sentiment for direction this week.

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