Apple became the first company to hit US$3 trillion

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04-01-2022 – Here are some Investing and Economic insights:

  • Apple yesterday became the first company to hit a US$3 trillion stock market value.
    • Investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.
    • On the first day of trading in 2022, the company’s shares hit an intraday record high of US$182.88, putting Apple’s market value just above US$3 trillion.
    • One of the funds in Raiz’s Custom Portfolio, UOB United-i Global Balanced Fund (Shariah) has Apple’s shares as its top 5 holdings.
  • US’s S&P 500, Dow Jones hit record highs on first trading day of 2022.
    • The Dow up 246.8 points, or 0.7%, to 36,585.1; the S&P 500 index up 30.4 points, or 0.6%, at 4,796.6.
    • With Raiz’s Custom Portfolio, you can set your own percentage to invest in international markets.
  • Bursa Malaysia closed lower on first trading day of 2022.
    • The benchmark index, FBM KLCI fell 18.5 points or 1.2% to end at 1,549.1.
  • Maybank Group President & Chief Executive Officer (CEO), Datuk Seri Abdul Farid Alias will step down from his position once his contract expires on 1 Aug 2022.
    • Abdul Farid has indicated that he would not seek a renewal of his contract. He has held the position since 2 Aug 2013.
    • Maybank has yet to name a successor.
  • AirAsia Group Bhd has proposed to change its name to Capital A Bhd, subject to shareholders’ approval.

 

Do You Know?

January Effect

The January Effect is the perceived seasonal tendency for stocks to rise in the first month of the year.

 


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