KUALA LUMPUR, April 4 (Bernama) -- Bursa Malaysia closed lower today, with the benchmark index falling by 0.97 per cent, as persistent selling across various sectors weighed on the market, which continued to feel the impact of sweeping US tariffs. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 14.77 points to 1,504.14 from Thursday’s close of 1,518.91. The benchmark index opened 9.90 points easier at 1,509.01 and fluctuated between 1,500.90 and 1,515.74 throughout the day. In the broader market, losers thumped gainers 777 to 185, while 366 counters were unchanged, 1,031 counters untraded and 19 others suspended. Turnover fell to 1.81 billion units valued at RM1.89 billion against Thursday’s 2.51 billion units valued at RM1.81 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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