MONEY MASTER

 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; ...

 Aluminium Prices Hit One-Year High Maybank Investment Bank (Maybank IB) remains positive on  Press Metal Aluminium Holdings Bhd (PMETAL)  as aluminium prices climb to their highest in a year amid tight global supply. Prices on the London Metal Exchange (LME) rose to  US$2,737 per tonne in September , already exceeding Maybank’s year-end forecast of  US$2,550 per tonne . The research house highlighted that inventories remain near multi-decade lows, while sanctions on Russia and China’s 45 million tonne production cap continue to squeeze supply. High energy costs have also led to smelter shutdowns in some regions, adding to the deficit risk. U.S. Dollar Weakness a Key Earnings Headwind While a weaker greenback could support aluminium demand globally, Maybank IB cautioned that it poses a downside risk for Press Metal’s earnings. This is because the company  earns revenue in U.S. dollars but reports in ringgit . Maybank estimates that a  5% depreciation o...

Expanding White House Control President  Donald Trump  has been taking unprecedented steps to exert direct control over private companies — an approach more commonly seen in economic crises. His administration has negotiated ownership stakes, revenue-sharing deals, and veto power over corporate actions. So far,  investors have mostly benefited , though the long-term outlook remains uncertain. Government-Backed Companies and Market Reactions Intel (INTC) The U.S. government took a  10% stake  in Intel after Trump pressured its CEO to resign. Since the deal in August, Intel’s shares have  risen 24% , far outpacing the  S&P 500’s 1.8% gain  in the same period. MP Materials (MP) The Department of Defense bought  15%  of the rare earths miner. Shares have  doubled  since the news of government involvement, making rare earths one of the biggest winners. Lithium Americas Currently in talks with the government for a deal similar to...

  Maybank (KL:MAYBANK) Net Profit : RM2.63b (+4% YoY) EPS : 21.75 sen NII : +1.1% YoY NOII : Higher, supported by fees and trading Provisions : Higher bad debt charges, but offset by income growth Dividend : 30 sen  first interim cash dividend  (dates TBD) Guidance : Reaffirmed FY2025 ROE target ≥ 11.3%  Takeaway : Resilient earnings with strong dividend payout. Higher provisions are a watchpoint, but Maybank remains attractive for income-focused investors. Public Bank (KL:PBBANK) Net Profit : RM1.76b (-1% YoY) NII : +5.1% YoY NOII : +15% YoY Drag Factor : Lower non-taxable income pressured bottom line Asset Quality : Remains strong with prudent loan loss reserves Dividend : 10.5 sen  first interim dividend , ex-date Sept 12, payable Sept 24 Takeaway : Profit dipped slightly, but underlying income growth is strong. Public Bank maintains its hallmark of  asset quality discipline and steady dividends , though its yield trails Maybank’s more generous payout. ...

Earnings Snapshot Malayan Banking Bhd (KL:MAYBANK), Malaysia’s largest lender by assets, reported a  net profit of RM2.63 billion  for 2QFY2025, up  4% year-on-year  from RM2.53 billion. Earnings per share stood at  21.75 sen . Net Interest Income (NII) : +1.1% YoY, reflecting stable loan growth and net interest margin support. Non-Interest Income (NOII) : Rose, providing a boost despite softer trading conditions. Provisions : Higher allowances for bad debts partly offset the income gains. Dividend Declaration Maybank declared a  first interim cash dividend of 30 sen per share , with entitlement and payment dates to be announced later. This reflects the bank’s continued focus on shareholder returns. Guidance Management reiterated its  FY2025 Return on Equity (ROE) target of at least 11.3% , signaling confidence in sustaining profitability despite elevated provisions and a cautious economic outlook. Investment Takeaways Resilient Core Business : Loan gr...

  Investor Takeaway : Bright spots : GDB, Kerjaya, Southern Cable, and Malayan Flour Mills delivered record or strong results with dividends, reinforcing themes of construction momentum, infrastructure demand, and consumer staples resilience. Headwinds : Retail (AEON), transport/shipping (MISC, PetDag), and legacy media (Media Chinese) face structural challenges. Strategic moves : Gamuda’s dual wins in highways and renewables, plus FGV’s delisting, point to long-term sectoral shifts in Malaysian infrastructure and plantations. Consumer & Retail AEON (KL:AEON)  – Q2FY25 net profit slumped  55.9% YoY to RM12.3m , its weakest in nearly two years. Revenue slipped 2.1% to RM999.7m on weaker retail sales, partly cushioned by property management income. No dividend. Ajinomoto (KL:AJI)  – Q1FY25 net profit rose  27.7% YoY to RM24.2m , supported by higher sales (+5.5%) and lower input costs. No dividend. Pecca (KL:PECCA)  – Q4FY25 net profit fell  7.2% YoY ...

Walmart ($WMT) has outpaced the S&P 500 over the past 12 months, rising an impressive  37.1%  versus the index’s  16.1% . With Q2 earnings set to drop this Thursday, investors are watching closely — not just the fundamentals, but also the chart signals flashing both bullish and bearish cues.   Earnings Preview: Solid Expectations Walmart’s Q2 earnings report will be released  before the bell on Thursday , with analysts anticipating: EPS (adj.) : $0.74 Revenue : $174.2 billion YoY EPS Growth : +10.4% YoY Revenue Growth : +3% Of the  33 analysts  covering WMT,  24 revised earnings estimates upward  this quarter, suggesting growing confidence in the retailer’s operational momentum. Fundamental Edge: A Retail Mainstay Walmart continues to serve as a go-to destination for everyday American needs — a reliable indicator of consumer trust. Its wide reach, affordability, and broad product offering keep it resilient in economic uncertainty. The que...

Despite a sluggish second-quarter earnings season across Bursa Malaysia, CIMB Securities has raised its year-end target and earnings growth forecast for the FBM KLCI, citing stronger-than-expected results from key index constituents. Earnings Drag: 2Q Off to a Weak Start CIMB flagged a  subdued 2Q2025  performance, with nearly  half of its coverage universe missing expectations . Of the 28 companies (32% of its total coverage) reporting results between June 1 and Aug 18: Only  14% beat estimates 46% missed forecasts Beat-to-miss ratio : 0.30 (up from 0.24 in 1Q2025) Weakness was  broad-based  across several sectors: Automotive Gloves Technology Consumer Oil & Gas Telecommunications Banking Major headwinds included  soft ASPs ,  elevated costs ,  start-up losses , and  lower plant utilisation . KLCI Constituents Show Resilience In contrast to the broader market,  KLCI component stocks fared better . Among the eight index members ...

Netflix reported impressive Q2 2025 earnings with margin expansion, record free cash flow, and raised guidance—yet the stock dipped post-market due to  valuation concerns . Key Financial Highlights Revenue : $11.08B (+15.9% YoY) —  Beat  market estimate of $11.06B Operating Income : $3.8B (+45% YoY) Net Income : $3.13B (+45.6% YoY) EPS : $7.19 (+47.3% YoY) Operating Margin : 34% (vs. 27% in Q2 2024) Free Cash Flow : $2.3B (up from $1.2B in Q2 2024) Regional Revenue UCAN : $4.93B – Largest contributor, strong pricing momentum APAC : $1.31B – Fastest growth (+24% YoY) LATAM & APAC : Slightly below expectations Growth Drivers Blockbuster Content Lineup Squid Game  S2,  Stranger Things ,  Wednesday ,  Knives Out ,  Taylor vs. Serrano 3 Drives engagement, stickiness, and subscriber growth. Price Hikes Paying Off U.S. ad-tier: $6.99 → $7.99 Standard plan: $15.49 → $17.99 Premium plan: $22.99 → $24.99 Result: UCAN revenue growth surged to 15% (from 9...