KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Key Takeaways
Futures edge higher after seven-session S&P 500 streak despite shutdown overhang.
AMD extends rally on multi-year OpenAI supply deal; ripple effects across AI hardware.
Dell hikes long-term targets; IBM teams with Anthropic; AppLovin stabilizes after probe report.
Trilogy Metals spikes on US investment; Constellation beats but trims FY guide.
Movers & Setups
Tesla (TSLA)
–1.1% pre-market after +5.5% Monday. Teasing “10/7” reveal; speculation ranges from mass-market model to Roadster update. Trading skew: headline-sensitive; watch options-implied vol into event.
Advanced Micro Devices (AMD)
+4.9% pre-market after +24% Monday. Multi-year deal to supply OpenAI up to 6GW GPUs; OpenAI warrant to buy up to 160M AMD shares (~10%). Read-through: supports AI capex breadth beyond a single vendor; watch MI450 timeline.
NVIDIA (NVDA) / Broadcom (AVGO)
NVDA +0.7%, AVGO +1% pre-market after Monday softness. Positioning: beneficiaries of sustained AI build-out; expect pair-trades vs AMD into earnings/guides.
Dell (DELL)
+6.3%. Lifts LT revenue CAGR target to 7–9% (from 3–4%); EPS growth ≥15% (from 8%). Thesis: AI servers/services mix driving margin expansion.
AppLovin (APP)
+2.9% after –14% Monday on reported SEC inquiry into data practices. Company: engages with regulators; material updates would be disclosed. Trade: relief bounce; regulatory headline risk persists.
IBM (IBM)
+3.0%. Partnership with Anthropic to integrate LLMs into select IBM software. Angle: accelerates enterprise GenAI adoption across IBM stack.
Trilogy Metals (TMQ)
+239% to $7.09. US to invest $36.5M (~10% stake) plus warrants for +7.5%. Catalyst: strategic domestic metals; expect volatility as valuation resets.
Constellation Brands (STZ)
+4.2%. Q2 beats; trims FY EPS guide to $9.86–$10.16 (prior $10.77–$11.07). Mix headwinds from younger consumers; watch cost discipline and brand elasticity.
Aehr Test Systems (AEHR)
–19%. Slight Q1 beat but swings to loss; no formal guidance amid tariff uncertainty. View: de-risking until visibility on AI/auto silicon test demand improves.
Dollar Tree (DLTR)
–3.3% to $84.76. Jefferies downgrade to Underperform; PT cut to $70 on tariff, competition, margin pressure. Monitor price investment vs traffic.
Amazon (AMZN)
+0.4%. Prime “Big Deal Days” kicks off. Focus: unit growth, deal quality, traffic vs 2024 comp, third-party seller momentum.
What to Watch Next
Shutdown data gap: traders lean on high-frequency indicators and guidance commentary.
AI capex breadth: follow-on orders, power/thermal constraints, lead times across GPU/ASIC supply chain.
Event risk: Tesla 10/7 reveal; Prime Day GMV snapshots; incremental regulatory headlines on adtech/data.
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