Malaysia Morning Wrap | Tech giants' mixed earnings; Amazon climbs over 13% on strong Q3 results

$S&P 500 Index (.SPX.US)$ 6,822.34 (-0.99%)

$Dow Jones Industrial Average (.DJI.US)$ 47,522.12 (-0.23%)

$Nasdaq Composite Index (.IXIC.US)$ 23,581.14 (-1.57%)

$Meta Platforms (META.US)$ sank 11.3% on heavy AI spending plans and a one-time tax hit despite topping Q3 estimates. $Microsoft (MSFT.US)$ lost 2.9% as AI capex concerns overshadowed its beats. These drags outweighed a limited U.S.–China trade thaw after a Trump–Xi meeting, which included a 10% U.S. tariff cut and China easing rare-earth export controls for at least a year.

The $Nasdaq Composite Index (.IXIC.US)$ shed 377.33 points or 1.57% to a 23,581.14 close, while the   $S&P 500 Index (.SPX.US)$ shed 68.25 ticks or 0.99% to 6,822.34. Similarly, the $Dow Jones Industrial Average (.DJI.US)$ gave up 109.88 points or 0.23% to 47,522.12.

$Apple (AAPL.US)$ rose over 2% after hours on a record September quarter. $Amazon (AMZN.US)$ jumped about 10% after hours as AWS revenue hit $33 billion, up 20% year over year—its fastest growth since late 2022. $Atlassian (TEAM.US)$ gained 12% post-market on a 26% rise in cloud revenue to $998 million.

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1614.20  (+0.17%)

Top Gainer: $PETDAG (5681.MY)$  RM22.68 (+1.70%)

Top Loser: $PCHEM (5183.MY)$ RM3.95 (-1.74%)

USD/MYR: $USD/MYR (USDMYR.FX)$ 4.20 (+0.27%)

The $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ closed 2.66 points higher at 1,614.20 on Thursday, ending a two-day decline despite overall market weakness. While the benchmark index saw late buying interest, the broader market remained bearish with losers outnumbering gainers 607 to 395. Trading volume reached 3.5 billion shares worth RM2.62 billion.

$BURSA (1818.MY)$ has lowered its financial and operational targets for 2025 following weaker third-quarter earnings. The exchange now projects a profit before tax between RM314 million and RM347 million, down from previous estimates. It also reduced its target for new listings' market capitalization to RM25.2 billion.

$BAT (4162.MY)$ experienced a sharp decline in its third-quarter net profit, falling nearly 90% to RM7.02 million. This all-time low is attributed to new regulations impacting cigarette sales.

$EWICAP (5283.MY)$, formerly Eco World International Bhd, is shifting its focus to investment holding by committing A$100 million (RM276.5 million) to TrustCapital Australian Office Fund No 3.

$AWC (7579.MY)$'s subsidiary, Ambang Wira Sdn Bhd, has been awarded a RM99.12 million contract by TM Technology Services Sdn Bhd, a unit of Telekom Malaysia Bhd.

$CAPITALA (5099.MY)$ CEO Tony Fernandes announced that the company expects to exit Practice Note 17 (PN17) status in December 2025. This follows the completion of its aviation restructuring conditions and the consolidation of its airline operations under $AAX (5238.MY)$.

$CTOS (5301.MY)$ experienced a 10.4% decline in third-quarter net profit, falling to RM24.69 million from RM27.55 million a year ago. This decrease was attributed to lower associate contributions and higher costs.

$PAVREIT (5212.MY)$ reported a 10% increase in net property income to RM145.49 million for Q3FY2025. This growth was largely driven by newly acquired assets, Banyan Tree Kuala Lumpur and Pavilion Hotel Kuala Lumpur, purchased for RM480 million.

$MUDAJYA (5085.MY)$ is selling four parcels of freehold land in Ijok, Selangor, for RM36.8 million as part of its strategy to monetize non-core assets. The company expects to record a disposal gain of RM24.06 million for FY2025, with the transaction set to complete in Q1 2026.

$PHARMA (7081.MY)$ is purchasing two industrial buildings in Terengganu and Sarawak for a total of RM30.5 million. This acquisition, funded through the company's regularisation plan, aims to enhance its logistics infrastructure and expand distribution capacity in East Malaysia.