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-- 215.240 Malaysia Morning Wrap | GAMUDA Wins RM8 Billion Penang LRT Civil Project
Good morning mooers! Here are things you need to know about today's market:
The S&P 500 opened low but rallied by day's end.
BURSA Malaysia has introduced a new renewable energy (RE) subsector within its energy and utilities sector.
Stocks to watch: GAMUDA, YTLPOWR
- Moomoo News MY
Wall Street Summary
$Dow Jones Industrial Average (.DJI.US)$ 42297.12(+0.86%)
$Nasdaq Composite Index (.IXIC.US)$ 19088.10(-0.38%)
The S&P 500 opened lower, yet by the close of the trading day, it had rallied and was on an upward trajectory.
Quantum-computing stocks fell on Monday after Meta Platforms CEO Mark Zuckerberg said quantum technology is far from practical.
In macroeconomic news this week, watch for Fed speakers, CPI inflation data on Wednesday, and Retail sale data on Thursday.
Bursa Market Insight
The FBM KLCI experienced a significant decline, dropping 16.82 points, which represents a 1.05% decrease, to reach 1,585.59. However, it managed to rebound from an intraday low of 1,578.97. On Bursa Malaysia, all indices closed in the red, with the sole exception of the Bursa Malaysia Energy Index.
In the overall market scenario, the number of losing stocks far exceeded that of the gaining ones. A total of 913 stocks ended the trading session with a downward movement, while only 211 stocks closed higher.
BURSA Malaysia Bhd has introduced a new renewable energy (RE) subsector within its energy and utilities sector. This initiative aims to offer a more targeted classification for public - listed companies (PLCs) that are active in the RE domain.
The scope of this new classification will cover PLCs engaged in supplying equipment and services related to RE production. Additionally, it will include those companies that generate or distribute electricity using renewable energy sources.
As a result of this new subsector, 13 PLCs have been reclassified, and this change became effective on Monday. Some of the companies reclassified are BM Greentech Bhd $BMGREEN (0168.MY)$ , Cypark Resources Bhd $CYPARK (5184.MY)$ , and Eden Inc Bhd $EDEN (7471.MY)$ , among others.
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Stocks to Watch
$GAMUDA (5398.MY)$ announced that its consortium has been selected as the main contractor for the first civil works package of the Penang Light Rail Transit project. This package is valued at over RM8 billion.
$YTLPOWR (6742.MY)$ is currently in the midst of setting up its very own artificial intelligence data centres. The company is making use of the cutting - edge chips provided by Nvidia Corp. Moreover, it anticipates that it will not be impacted by the proposed regulations in the US. These regulations aim to limit the export of advanced chips to countries like Malaysia.
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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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qiansuiye : buy the dip!
Ken-Opulence : Based on your assessment & prediction, KLCI possible downturn to 1525 within 30 trading days??