KUALA LUMPUR, Dec 12 (Bernama) -- Bursa Malaysia’s key index closed higher today on bargain hunting, in line with positive investor sentiment across regional markets, consolidating at its highest level in more than two months — a level last seen on Oct 2, 2025. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.42 points, or 0.76 per cent, to 1,637.81, compared with Thursday’s close of 1,625.39. The benchmark index opened 2.83 points lower at 1,622.56, thereafter edged down to an early low of 1,622.03, before staging an uptrend to an intraday high of 1,640.36 in late trading. Market breadth was positive, with gainers trouncing decliners at 743 versus 387. Another 530 counters were unchanged, 1,108 untraded, and 16 suspended. Turnover increased to 3.09 billion units worth RM2.46 billion from 2.99 billion units worth RM2.35 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended higher on continued...
Key Takeaways:
Major gainers: Nebius (+54%) on Microsoft AI deal, Wolfspeed (+67%) following court-approved restructuring, and Tourmaline Bio (+58%) on Novartis acquisition.
Tech headlines: Apple (-0.5%) ahead of iPhone launch; Dell (-0.8%) CFO exit but guidance reaffirmed.
Volatile moves: Eightco (+3,000% Monday, +17% more Tuesday) on Worldcoin bets; Planet Labs (-11%) after convertible note offering despite prior rally.
Resource sector: Teck Resources (+17%) merges with Anglo American to create a US$53 billion copper giant.
Apple: Market Waits for iPhone Launch
Apple shares fell 0.5%, extending Monday’s decline, ahead of its highly anticipated iPhone launch event. The company is expected to unveil four new models, including the iPhone 17 Air, which is rumored to be thinner and lighter. Apple stock has fallen 5% year-to-date.
Dell: Leadership Change, Steady Outlook
Dell shares declined 0.8% after CFO Yvonne McGill announced her resignation after 30 years with the company. Importantly, Dell reaffirmed both third-quarter and full-year guidance. Senior executive David Kennedy will serve as interim CFO.
Nebius: Secures Microsoft Partnership
Nebius surged 54% after announcing a US$19.4 billion agreement with Microsoft to provide AI infrastructure through 2031. The long-term deal positions the Amsterdam-based firm as a key player in global AI infrastructure.
Wolfspeed: Restructuring Plan Approved
Shares of Wolfspeed gained 67% to US$2.06 after the company received court approval for its restructuring plan. Wolfspeed expects to exit Chapter 11 protection in the coming weeks, renewing investor confidence.
Teck and Anglo American: Copper Consolidation
Teck Resources rose 17% after announcing a merger of equals with Anglo American. The deal creates one of the world’s largest copper producers with a combined market capitalization of about US$53 billion. Anglo American shares in London advanced 8%.
Tourmaline Bio: Novartis Acquisition
Tourmaline Bio climbed 58% to US$47.67 after Novartis agreed to acquire the biotechnology company for approximately US$1.4 billion, or US$48 per share in cash. The acquisition underscores continued M&A activity in biotech.
Core & Main: Guidance Cut Overshadows Earnings
Core & Main fell 16% despite reporting second-quarter adjusted earnings above estimates. The company cut its fiscal-year EBITDA guidance to US$920–940 million from US$950 million–1 billion and trimmed revenue guidance, citing higher operating expenses and weaker residential demand.
SailPoint: Weak Guidance Pressures Shares
SailPoint shares dropped 11% after issuing third-quarter earnings and revenue forecasts below Wall Street expectations.
Eightco Holdings: Speculative Frenzy Continues
Eightco Holdings surged 3,000% on Monday after announcing it would sell new stock to finance purchases of Worldcoin, the cryptocurrency project backed by OpenAI CEO Sam Altman. The stock added another 17% on Tuesday in early trading.
Planet Labs: Profit Beat Offset by Capital Raising
Planet Labs gained 48% on Monday after reporting a narrower-than-expected loss and raising guidance. However, shares fell 11% in premarket trading Tuesday after the company announced plans to issue US$300 million in convertible senior notes.
Earnings Ahead
Oracle was up 0.7% premarket ahead of its fiscal first-quarter results, with analysts expecting US$1.48 per share on US$15 billion revenue.
GameStop, Synopsys, Rubrik, and AeroVironment are also scheduled to report earnings later today.
Bottom Line for Investors:
Markets continue to see sharp stock-specific moves driven by corporate actions, leadership changes, M&A, and sector shifts. With the Federal Reserve meeting next week, investor focus remains on macroeconomic data, but company-specific catalysts are dominating near-term trading opportunities.
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