Malaysia Morning Wrap | AI Drives 50% of Malaysia's RM6.8bn Digital Exports; Hibiscus Reserves Up 32%
Key Takeaways:
• Major US Indices Retreat From Record Highs as Tech Giants Stumble
• KLCI Rebounds to Close 0.27% Higher at 1,676.83 on Late Buying
• Malaysia Achieves RM6.8 Billion in Digital Exports
• Malaysia Achieves RM6.8 Billion in Digital Exports
• Stocks to watch: Hibiscus, A1, etc.
🇺🇸Wall Street Summary
$S&P 500 Index (.SPX.US)$ 6,920.93(-0.34%)
$Dow Jones Industrial Average (.DJI.US)$ 48,996.08 (-0.94%)
$Nasdaq Composite Index (.IXIC.US)$ 23,584.27(+0.16%)
US stock markets pulled back Wednesday after touching fresh all-time highs earlier in the session. The $Dow Jones Industrial Average (.DJI.US)$ closed at 48,996.08, while the $S&P 500 Index (.SPX.US)$ dropped to 6,920.93. Both indices had reached intraday records before reversing course. The $Nasdaq Composite Index (.IXIC.US)$ managed to buck the trend, climbing to 23,584.28.
Technology heavyweights led the decline, with $Western Digital (WDC.US)$ plunging 8.9%, $Seagate Technology (STX.US)$ down 6.7%, and $Meta Platforms (META.US)$ slipping 1.8%. Industrial and consumer stocks also faltered, including $Caterpillar (CAT.US)$ (down 4.3%) and $Nike (NKE.US)$ (down 3.3%).
In commodities markets, gold and silver retreated from recent highs, with silver tumbling as much as 6.1% to $76.08 per ounce. Cryptocurrencies continued their pullback for a second consecutive day, with $Bitcoin (BTC.CC)$ falling 1.6% to $91,008 and $Ethereum (ETH.CC)$ declining 3.3% to $3,136.
🇲🇾Bursa Market Insight
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1676.830 (+0.27%)
Top Gainer: $99SMART (5326.MY)$ RM3.94 (+2.87 %)
Top Loser: $QL (7084.MY)$ RM3.80 (-2.81%)
USD/MYR: $USD/MYR (USDMYR.FX)$ 4.0602 (+0.05%)
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1676.830 (+0.27%)
Top Gainer: $99SMART (5326.MY)$ RM3.94 (+2.87 %)
Top Loser: $QL (7084.MY)$ RM3.80 (-2.81%)
USD/MYR: $USD/MYR (USDMYR.FX)$ 4.0602 (+0.05%)
The FBM KLCI recovered from intraday lows to close at its session high of 1,676.83, up 4.48 points or 0.27%, after touching 1,665.94 earlier. Market breadth was mixed with 512 gainers versus 565 losers, while 2.73 billion shares worth RM2.76bn changed hands.
Dealers attributed the rebound to late buying in selected blue chips despite weaker regional sentiment.
Malaysia recorded RM6.8 billion in digital exports from 2024 to 1H2025, with RM4.2 billion in 2024 (325 companies, 27 countries) and RM2.6 billion in 1H2025 (350 companies, 39 markets).
AI-enabled companies contributed approximately 50% of total exports. Digital Minister Gobind Singh Deo highlighted Malaysia's growing leadership in the global digital economy, supported by effective policies and partnerships.
Palm oil rose after Malaysian exports surged 31% in early January (Jan 1-5 vs. same period in December). March futures climbed 0.9% to RM4,024/tonne on optimism for stronger shipments and lower production.
However, gains were limited by inventories estimated at 2.99 million tonnes in December—a 7-year high after 10 straight monthly increases. Analysts warn demand remains weak, with a stronger ringgit and Brazil's soybean crop posing further headwinds.
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🔔Stocks to Watch
$HIBISCS (5199.MY)$ reported that its Teal West field in the UK now holds 4.5 million barrels of 2P reserves, a 32% increase from 3.4 million barrels following the drilling of a new well and data review.
$A1AKK (0365.MY)$ has been appointed as the sole distributor for New Zealand Instant Full Cream Milk Powder in Peninsular Malaysia by Uniraw Dairies & Food.
$PARAMON (1724.MY)$ is acquiring 2.62 acres of freehold land in Putrajaya for RM40 million as part of its land replenishment strategy, to be funded through internal funds and bank borrowings.
$TIENWAH (7374.MY)$, along with its joint venture partners Lum Chang Holdings and Lum Chang Tien Wah Property, has signed an agreement with MyTelehaus to develop and lease a data centre on 1.61 acres of its land.
$LGMS (0249.MY)$ has obtained regulatory approval to transfer its listing to the Main Market, three and a half years after its debut on the ACE Market.
💡Buy or Sell?
Source: Dow Jones Newswires, Bursa Malaysia, The Malaysian Reserve, The Star, The Edge.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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