Malaysia Morning Wrap | Oriental Kopi's IPO Was Oversubscribed 59.96 Times

Moomoo News MY wrote a column · Jan 15 09:12

Good morning mooers! Here are things you need to know about today's market:

The PPI climbed 3.3% year over year, which was lower than the 3.5% that experts had predicted.

Oriental Kopi's IPO was oversubscribed 59.96 times ahead of its 23 Jan listing on ACE Market.

Stocks to watch: YINSON, YTLPOWR, MAHSING

- Moomoo News MY

Malaysia Morning Wrap | Oriental Kopi's IPO Was Oversubscribed 59.96 Times

Wall Street Summary

$S&P 500 Index (.SPX.US)$ 5842.91(+0.11%)

$Dow Jones Industrial Average (.DJI.US)$ 42518.28(+0.52%)

$Nasdaq Composite Index (.IXIC.US)$ 19044.39(-0.23%)

On Tuesday, the market managed to secure a gain right before the closing bell. Over the past five trading sessions, the S&P 500 had dropped by nearly 3%. In the late afternoon of Tuesday, it seemed as if the decline would continue. However, it ended the day with a minimal increase.

From a macro economic perspective, according to the Producer Price Index (PPI) released by the Bureau of Labor Statistics on Tuesday, the wholesale inflation experienced by companies rose less than anticipated. The PPI climbed 3.3% year over year, which was lower than the 3.5% that experts had predicted.

Within industry themes tracked by moomoo, quantum computing still fell, while weight loss drugs led the market in decline following Eli Lilly's $Eli Lilly and Co (LLY.US)$ weak sales.

Bursa Market Insight

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1576.46 (-0.58%)

Top Gainer: $AXIATA (6888.MY)$ RM2.33 (+4.02%)

Top Loser: $SUNWAY (5211.MY)$ RM4.25 (-5.35%)

The FBM KLCI experienced a short-lived rebound but ultimately closed at its lowest point since June 2024. This decline was a result of deteriorating market sentiment, with stocks such as Sunway, YTL Power, and CIMB Group weighing down the index.

According to dealers, investor unease has been on the rise in the lead - up to the first day of the Trump administration. The uncertainty surrounding U.S. President-elect Donald Trump's policy initiatives has caused sentiment to turn negative.

Oriental Kopi Holdings Bhd’s initial public offering (IPO) was oversubscribed by 59.96 times ahead of its upcoming listing on the ACE Market of Bursa Malaysia, scheduled for 23 Jan.

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Stocks to Watch

Yinson Production, an indirect subsidiary of Yinson Holdings Bhd $YINSON (7293.MY)$ , has successfully obtained USD1.0 billion in funding for its expansion efforts. The funds come from a consortium of international investors, with a wholly - owned subsidiary of Abu Dhabi Investment Authority taking the lead in this investment initiative.
Read more: Trader’s Look at Market – YINSON receives USD 1 bil funding from Abu Dhabi”

Mah Sing Group Bhd $MAHSING (8583.MY)$ expressed its confidence that its data centre projects will be able to navigate through the proposed US restrictions on the export of artificial intelligence chips.

The digital bank, which is jointly owned by YTL Power International Bhd $YTLPOWR (6742.MY)$ and Singapore-based Sea Ltd, got the green light from the Ministry of Finance to start its operations as of Dec 20, 2024.

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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. Read more