Trading results for 9 June 2025
Investors began Monday anticipating a shake-up amid reports of upcoming U.S.-China trade talks in London. Many hoped for updates that would clarify the current tariff situation. However, the day passed without any new information on the negotiations. As a result, market participants spent the session in limbo, unsure whether to buy or sell.
The lack of direction led to a dull and uninspired trading day, clearly reflected in the major indexes by the close. Most notably, the blue-chip Dow Jones Industrial Average (DJI) ended the day unchanged – a perfect 0.00%. Meanwhile, the benchmark S&P 500 (SPX) managed a slight gain of 0.09%.
The tech-heavy NASDAQ Composite (IXIC) fared somewhat better, posting a respectable increase of 0.31%. The index was buoyed by strong performances from semiconductor stocks, particularly Advanced Micro Devices (AMD), which rose 4.77%, adding nearly 5% to its market capitalisation in a single day.
AMD is shaping up to be one of the most promising “sleepers” in the AI chip sector. Until recently, its shares were down nearly 50% from last year’s highs. But investors now appear to be betting that AMD can carve out a strong position in the AI chip market and challenge industry leader Nvidia (NVDA).
AMD’s data centre business is gaining momentum. In the first quarter, revenue from its AI-oriented segment surged 57% year-on-year to $3.7 billion. The growth was largely driven by its EPYC central processing units (CPUs) and Instinct graphics processing units (GPUs). The company is also reorganising its product portfolio to better align with the needs of the AI era.
In a bid to scale its semiconductor business, AMD acquired ZT Systems in Q1 for $4.9 billion, strengthening its capabilities in rack-scale and high-performance computing solutions. Simultaneously, AMD announced plans to sell its Sanmina server manufacturing unit for $3 billion, reaffirming its focus on design rather than production. ZT Systems will retain its AI rack design expertise and customer support functions.
This isn’t the only AI-focused deal AMD has made. The company also announced the acquisition of Brium, a tech firm specialising in making AI software compatible across different hardware platforms. This strategic move should help AMD compete more effectively with Nvidia, whose CUDA ecosystem remains the industry standard for AI workloads.
Clearly, AI-related technologies are evolving rapidly. It's also worth noting that AMD shares – along with many others – are available to Kazakhstani investors via the ITS platform.
Turning to the ITS family of indexes, there was more good news for investors. For the second consecutive day, the ITS World Index (ITSW), which tracks global companies, hit new all-time highs. Friday’s closing record was short-lived, as Monday saw the index surpass both that and its absolute maximum. The gain was modest – just 0.25% – but the very fact of reaching new highs is a welcome sign for investors, especially those who have already purchased the ETF linked to the index.
The ITS Shariah Index (ITSS) also tried to keep pace, rising 0.4% for the day. However, it remains around 3% below its record high. Encouragingly, if market optimism persists, ITSS could rally strongly. Investors currently appear to be embracing risk – as evidenced by the fact that the top five performers within the index are all leading tech stocks, including AMD, TSLA, QCOM, TXN and ORCL. That alone offers grounds for optimism.
Still, this may be the calm before the storm. Later this week, U.S. consumer inflation data is due, along with potential updates on the outcome of the U.S.-China trade talks. So don’t get too comfortable – stay alert and prepared.