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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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Pop Mart: Citi Turns More Upbeat on Sales Momentum

 What happened:

Citi says Pop Mart’s sales outlook has improved on the back of stronger IP performance. 3Q revenue beat expectations, driven by faster sell-through of new products globally and retailer restocking. Momentum should carry into the festive season, though growth may moderate on a higher base.

Citi’s call:

  • Rating: Buy (reiterated)

  • Target price: HK$415 (from HK$398)

  • Rationale: Continued investment in products, content, and collaborations is deepening IP influence (e.g., Labubu), supporting both China and overseas demand.

Stock check:

  • Last: HK$262 (up ~4.6% intraday)

  • Implied upside to TP: ~58% (HK$415 vs HK$262)

Why it matters (quick take):

  • IP strength = pricing power + repeat purchases. Pop Mart’s flywheel (new drops → scarcity → community buzz) looks intact.

  • Restocking suggests channel confidence and cleaner inventories heading into holidays.

  • Overseas traction is becoming a second engine, reducing reliance on China footfall.

What to watch next:

  • Holiday sell-through and limited-edition drop cadence

  • Gross margin trend (mix of blind boxes vs collaborations/licensing)

  • Overseas contribution growth and store rollout efficiency

  • Any signs of IP fatigue or slower repeat rates as comps toughen

Key risks: Consumer softness in China, base-effect normalization post-restock, execution on new IPs, and FX for overseas revenue.

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