Tesla (TSLA) +2% Tesla shares bounced after a rough Monday, despite being down 36% in Q1 — the worst Q1 in company history. Investors are now eyeing its Q1 delivery report due Wednesday, with Street estimates hovering around 380,000 units . Analysts have been revising expectations lower amid backlash over Elon Musk’s role in Trump’s administration. Chinese EV Makers Up XPeng (XPEV) +1.6% : Delivered 33,205 vehicles in March — its fifth straight 30k+ month. NIO (NIO) +1.6% and Li Auto (LI) +1.4% also gained on strong March deliveries. Nvidia (NVDA) -0.6% Still under pressure after a 19.3% Q1 drop , its worst since 2022. Investor worries over AI spending, tech valuation, and trade tensions are weighing heavily. Johnson & Johnson (JNJ) -5% Fell after a Texas judge dismissed J&J’s third bankruptcy attempt to settle talc-related lawsuits via Chapter 11. PVH Corp (PVH) +18.9% Shares surged after Q4 earnings beat expectations ...
Wall Street Overview:
S&P 500: 5,712.20 (-1.12%)
Dow Jones: 42,454.79 (-0.31%)
Nasdaq: 17,899.01 (-2.04%)
U.S. stocks tumbled as uncertainty around President Trump's tariff plans rattled investors. The Nasdaq, S&P 500, and Dow all saw sharp declines, with tech stocks like NVIDIA and Tesla leading the losses. Trump's surprise 25% tariff on foreign-made vehicles added to the volatility. On a positive note, GameStop surged 11.8% after announcing it would hold Bitcoin reserves.
Bursa Malaysia Market Insights:
FTSE Bursa Malaysia KLCI Index: 1,518.05 (+0.29%)
Top Gainer: Gamuda (6888.MY) RM1.87 (+5.06%)
Top Loser: YTL (4677.MY) RM2.05 (-1.91%)
USD/MYR: 4.4300 (+0.01%)
Malaysian stocks edged up, with the KLCI gaining 0.29%. The market showed cautious optimism as regional markets awaited updates on U.S. trade policy. Despite global uncertainties, MIDF Research projects a 6.7% increase in FBM KLCI earnings in 2025, driven by global monetary easing, though risks remain from foreign fund outflows and regional market pressures.
IPO and Stock Focus:
CKI (5336.MY): Launching an IPO with a subscription of RM184.8 million. Shares priced at RM1.29 each, with listing set for April 30.
Stocks to Watch:
Gamuda (5398.MY): Reports a 4.8% increase in Q2 profit, hitting RM218.85 million, with revenue jumping 17.2% to RM3.9 billion. The company’s order book reaches a record RM36 billion, with domestic projects doubling to RM14 billion. Expecting to sign major contracts soon, driving future growth.
LSH (0351.MY): Secured a 20-year lease to operate Kuala Lumpur Tower and surrounding areas, effective from April 2025.
GASMSIA (5209.MY): Announced a final dividend of 10.28 sen after a 15.12% profit increase in FY2024.
NESTCON (0235.MY): Secured a RM228.3 million contract for a 49-storey condominium in Kuala Lumpur.
M&G (5078.MY): Q3 profits plummeted 80% to RM2.55 million, primarily due to reduced vessel use and asset sales.
KMLOONG (5027.MY): Q4 profit dropped 8.49%, despite a 21.4% revenue increase. Increased costs offset higher CPO prices.
UMCCA (2593.MY): Saw a 53% YoY increase in Q3 profit, driven by higher CPO and palm kernel prices.
PCHEM (5183.MY): Petronas plans to raise up to $3 billion via US dollar bonds. Profit for FY2024 fell by 31.7%.
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