MONEY MASTER

Malaysian equities opened stronger, with the  FBM KLCI  climbing as much as  0.8% to 1,697 , driven by gains in banking and technology stocks. However,  falling oil prices dragged energy counters lower , highlighting sector divergence. Banks and Tech Lead the Market Market momentum was supported by: CIMB Group Holdings  rising  over 3% Malaysian Pacific Industries  surging  7% Renewed optimism in  AI and growth sectors , following strong global tech sentiment and the ripple effects from the  SpaceX-driven market excitement . Oil Drop Hits Energy Stocks Energy counters underperformed as oil prices declined after progress in US-Iran peace talks: Dialog Group  fell  over 5% Stocks rose because lower oil prices reduce inflation and Fed risks , but this simultaneously pressures  energy sector earnings . Macro Risks Cap Upside Despite the rebound, analysts see  limited upside  for the KLCI: Resistance expected around...

Nvidia (NVDA.US)  is now trading at its  lowest price-to-earnings (P/E) ratio in seven years , as geopolitical tensions and concerns over AI returns weigh heavily on investor sentiment. Valuation Compression Signals Market Caution Nvidia’s forward  P/E has dropped to ~19.6x , falling below the  S&P 500 average (~20x)  — an unusual shift for a high-growth technology leader. The decline follows a  ~20% drop from its October peak , wiping out over  US$800 billion in market value , despite strong fundamentals. War and Inflation Fears Drive Selloff The broader market downturn, triggered by the  Middle East conflict , has raised concerns that: Oil prices will remain elevated Inflation could reaccelerate Central banks may  delay rate cuts or tighten policy These macro risks have pressured high-growth tech stocks, including Nvidia. AI Spending Concerns Weigh on Outlook Investor sentiment has also been hit by doubts around  AI monetisation ti...

Apple ’s FY26 Q1 results didn’t simply outperform forecasts. They forced investors to rethink  where the real risks now sit — and which long-running worries may finally be losing relevance. For several quarters, two concerns dominated the narrative: a sluggish China recovery and the threat that rising component costs would erode margins. This earnings report directly challenged both. The China Question Has Shifted Greater China revenue reached  US$25.5 billion , rising  38% year over year  — the fastest pace since 2021 and well ahead of market expectations. More important than the headline number is what it removes. China had been a persistent drag on Apple’s growth story, underperforming the company average for nine consecutive quarters. This quarter breaks that pattern decisively. The rebound was driven primarily by iPhone demand, helped by extended state subsidies and a sharp recovery in foreign-brand smartphone shipments. With China once again contributing meanin...

Apple Inc.  is preparing a major overhaul of  Siri , transforming it into the company’s first true  AI chatbot  as it races to catch up with rivals like  OpenAI  and  Google , according to Bloomberg. The revamped Siri, internally code-named  Campos , will be deeply embedded across  iPhone, iPad and Mac  operating systems. Unlike today’s voice assistant, the new Siri will support  natural, chat-style conversations , allowing users to ask follow-up questions, type requests, and complete more complex tasks — similar to ChatGPT or  Google Gemini . This marks a strategic pivot for Apple, which has historically resisted standalone chatbots in favour of weaving AI quietly into features. However, after a  rocky rollout of Apple Intelligence in 2024  and growing competitive pressure, the company is now embracing conversational AI more directly. The chatbot is expected to be  previewed at WWDC in June  and  relea...

Amazon and Nvidia have deepened their AI alliance, integrating Nvidia’s accelerated computing technologies directly into Amazon Web Services’ (AWS) next-generation custom silicon — marking a major escalation in the global AI infrastructure arms race. At AWS re:Invent, the two tech giants unveiled expanded support for  Nvidia NVLink Fusion , a new interconnect architecture that links Nvidia GPUs with AWS-designed chips such as  Trainium4  and future  Graviton  processors. AWS is building its future AI platforms using  NVLink Fusion + Nvidia MGX rack architecture , creating a unified high-performance fabric capable of powering the next wave of large-scale AI models. Advanced GPU Access & Sovereign AI Clouds AWS is also broadening access to  Nvidia’s Blackwell GPUs , which now power AWS’s new  AI Factories  — dedicated sovereign AI cloud clusters designed for global enterprises needing local, regulation-compliant compute. Nvidia says this ma...

Apple Inc.  reported mixed quarterly results as a surprise sales decline in  China  weighed on investor sentiment, tempering enthusiasm ahead of what could be the company’s strongest holiday season yet. While  total revenue beat analyst expectations ,  iPhone supply constraints  and weaker Chinese sales underscored lingering global challenges. Shares slipped  0.4% to US$270.53  in New York on Friday, despite having climbed 8.4% year to date. “China weakness is a concern,” said Barclays analyst  Tim Long , noting that Apple’s services business, its key growth engine, also faces regulatory and competitive risks. China Drag Dampens Results Revenue from  Greater China  dropped  3.6%  to  US$14.5 billion , missing projections of  US$16.4 billion . Analysts attribute the shortfall to  fierce competition from local smartphone brands  and  Apple’s slower rollout of AI features  in the market. However,...

 Key Takeaway Microsoft is accelerating its artificial intelligence ambitions beyond OpenAI by targeting the healthcare sector — a move aimed at differentiating its Copilot assistant and asserting greater technological independence. Strategic Partnership With Harvard Microsoft is collaborating with  Harvard Medical School’s Health Publishing division  to integrate medically verified content into  Copilot’s next major update , expected as soon as this month. The update will enable Copilot to deliver  credible, practitioner-grade health responses  to users. Microsoft will pay  Harvard a licensing fee  for access to its medical database. The new feature aims to help users manage chronic conditions like  diabetes , providing trustworthy information tailored to individual literacy and language needs. Dominic King , VP of Health at Microsoft AI, said the goal is to ensure users receive  accurate, responsible healthcare information . Copilot’s ...

Key Takeaway: $Advanced Micro Devices (AMD.US)$ inked a  multi-year AI chip supply deal  with $OpenAI$, potentially worth  tens of billions in annual revenue , and offering the ChatGPT creator the option to acquire up to  10% of AMD’s equity . The news sent AMD shares surging over  23% in pre-market trade , putting them on track for their  highest level since March 2024 . Deal Overview Scope:  Supply of  hundreds of thousands of AMD AI GPUs —equivalent to  6 gigawatts  of compute capacity—rolled out from  2H 2026 . Flagship hardware:  OpenAI to build a  1GW AI facility  using AMD’s upcoming  MI450 series  chips in 2026. Financial impact:  AMD expects  tens of billions of dollars annually  and  over US$100 billion in cumulative revenue  over four years from OpenAI and related ecosystem partners. Strategic milestone:  Marks a significant diversification of OpenAI’s hardware base b...

Intel Explores Strategic Partnerships Intel Corp. (NASDAQ: INTC)  shares surged more than 6% on Wednesday after reports surfaced that the company has approached  Apple Inc. (NASDAQ: AAPL)  about a potential investment. According to Reuters, discussions have also touched on expanding collaboration, though the talks remain preliminary and may not lead to a formal deal. Neither company has issued public comment. Reviving Competitiveness in AI The move comes as Intel seeks to regain ground in the fast-growing artificial intelligence chip market, where it has lagged behind  Nvidia Corp. (NASDAQ: NVDA)  and  Advanced Micro Devices (AMD) . Chief Executive  Lip-Bu Tan  has been pursuing strategic partnerships and fresh capital to support Intel’s turnaround. Just last week,  Nvidia disclosed a $5 billion investment  for a roughly 4% stake in Intel, while  SoftBank  has also taken a position. In addition, the  US government secured ...

Asian stocks extended their rally on Tuesday as the global  artificial intelligence (AI) boom  continued to pull money into technology shares, while gold surged to fresh record highs on expectations of further U.S. rate cuts. Wall Street once again led the charge after  Nvidia unveiled plans to invest up to US$100 billion in OpenAI , with its first data-center hardware set for delivery in 2026. The announcement sparked another wave of optimism across the tech sector, with giants such as Oracle, Apple, Tesla, and Nvidia itself fueling record highs. Market watchers noted that momentum funds and option traders are piling in, reinforcing the rally’s self-fulfilling nature. At the same time, investors seeking to hedge risk have flocked to gold. The precious metal hit an all-time peak of  US$3,755.47 per ounce , nearly 9% higher so far this month. Across Asia, chip-related sectors are enjoying the spillover effect. South Korea’s market gained 0.2%, now up almost 9% in Sept...

  Key Takeaways Matt Shapiro of MWS Capital bought Netflix, Alphabet, and Nvidia at distressed prices earlier this year. He is now eyeing opportunities in  Microsoft, Apple, Berkshire Hathaway, Deere, Chevron, Boeing , and European luxury names. Shapiro is also adding  long-dated Treasurys, TIPS , and sees crypto as an eventual must-own on pullbacks. Matt Shapiro, a Chicago-based money manager overseeing  US$183 million at MWS Capital , is preparing for market pullbacks even as he remains bullish on “super companies” fueling S&P 500 profit growth. Earlier this year, Shapiro capitalized on what he called the first chance since 2022 to buy top-tier tech at bargain prices:  Netflix under $1,000, Alphabet at $165, and Nvidia at $100 . Those bets have since paid off, with Netflix closing at $1,200, Alphabet at $251, and Nvidia at $175 on Tuesday. Looking Ahead: Diversification Beyond Tech Shapiro told MarketWatch he is adding to  Microsoft and Apple , while ...

 Key Takeaways Stock surge : Baidu shares jumped  16% in Hong Kong , adding  US$6.4b in market value , biggest gain since March 2022. Analyst upgrades : Arete flipped from  sell  to  buy ; Citi and Goldman also turned bullish on Baidu’s AI growth prospects. Chip & cloud catalysts : Mass production of Baidu’s Kunlun AI chips and new China Merchants Group partnership expected to boost revenue. AI model upgrade : New Ernie X1.1 shows “significant improvements,” even surpassing some DeepSeek benchmarks. Baidu Rides AI Hype Baidu’s shares surged on Wednesday as analysts highlighted the company’s  AI chip and cloud opportunities . The rally came after  Arete Research  upgraded Baidu from  sell  to  buy , reversing its lone bearish stance since May. Options Activity Jumps Investor enthusiasm spread to the derivatives market, with  170,000 contracts traded  — more than triple the 20-day average — showing bets on further u...

  Key Takeaways TSMC , the world’s leading chip foundry, will begin marketing its proprietary  trade secret registry system  to suppliers and partners in Europe and the US. The system, developed in 2013, is already adopted by  20 Taiwanese firms , including  ASE Technology Holding Co. It integrates with HR and IT platforms, using  AI analytics  to monitor projects, manage joint R&D, and identify key talent. TSMC currently has  over 610,000 trade secrets logged  into the system. The move aims to  strengthen supplier innovation culture  while reinforcing TSMC’s competitive advantage. Despite strong cybersecurity measures, TSMC recently faced a theft case, underscoring the risks tied to safeguarding proprietary technologies. Strategic Implications TSMC’s decision to commercialise its trade secret management platform reflects a broader push to safeguard intellectual property while fostering innovation. By encouraging suppliers and e...

  From Silk to Silicon: The New Trade Highway If the original Silk Road carried silk and spices, today’s version deals in  GPUs and generative AI horsepower . And at the heart of this trillion-dollar corridor is  $NVIDIA (NVDA.US) , the $4T behemoth threading its silicon through the geopolitical complexities of  China’s digital walls  and  Saudi Arabia’s data ambitions . This isn’t just about semiconductors — it’s about shaping the AI infrastructure and digital influence of the next decade. China: Demand Is Hot, But So Are the Restrictions The China market remains a delicate balancing act: U.S. export controls (since 2022) have  limited Nvidia’s ability to sell top-end chips , forcing it to  create reduced-spec models  like the  RTX 4090D  and now the  Blackwell B30A . Despite these efforts,  more than $1 billion in Nvidia chips were smuggled  into China, highlighting  unmet demand  and  ineffective enf...

As  Nvidia (NVDA.US)  gears up to report  FY26 Q2 earnings  after the bell on  Wednesday, August 27 , the options market is showing  unusual calm  compared to past quarters — a signal that  traders are pulling back from aggressive bets  amid a cooling volatility landscape. Implied Volatility and Expected Move Dip Below Average Implied Move : The options market is pricing in a  ±7.01% post-earnings move ,  below  the 12-quarter average of  8% . Implied Volatility (IV) : Currently sits at  48% , ranking only in the  39th percentile  over the past year — a clear sign that  expectations for big earnings-day swings are fading . Put Skew : Remains  flat near zero , meaning  no elevated pricing for downside protection  — a sharp contrast to the usual cautious buildup ahead of earnings. Interpretation : Market sentiment is leaning toward  stability or neutrality , lacking signs of large spec...