KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
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. The Calvin Klein & Tommy Hilfiger owner guided for flat-to-slightly-higher revenue in FY25 after a 6% drop in FY24.
Progress Software (PRGS) +6.3%
Raised its FY earnings forecast, citing strong demand across product lines, especially in infrastructure and data platforms.
Newsmax (NMAX) +77.7%
Continued its IPO rally. After a 735% surge on debut, the stock rose further Tuesday to $121.50, reflecting intense retail interest.
Southwest Airlines (LUV) -3.3%
Downgraded by Jefferies to Underperform. Analysts cite weaker summer demand and growing macro uncertainty.
Ulta Beauty (ULTA) +2.6%
Upgraded to Buy at Goldman Sachs with a raised price target of $423, on expectations of continued strength in beauty spending.
Genuine Parts (GPC) -1.8%
Downgraded to Sell by Goldman Sachs with a lower target of $114, citing weaker industry fundamentals.
nCino (NCNO)
Set to report earnings after the bell. Investors will watch for any signs of improved SaaS momentum in the fintech space.
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