KUALA LUMPUR, June 22 (Bernama) -- Bursa Malaysia ended on a softer note today as investors engaged in profit-taking following the recent rebound in the local market, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.65 per cent, or 11.19 points, to 1,700.84 from last Friday's close of 1,712.03. The benchmark index opened 1.56 points lower at 1,710.47 and moved between 1,699.94 and 1,712.32 throughout the trading session. Market breadth was negative, with decliners outnumbering gainers 560 to 481. A total of 608 counters were unchanged, 1,649 untraded, and 14 suspended. Turnover slipped to 3.29 billion units worth RM2.40 billion from 3.45 billion units worth RM3.79 billion on Friday.
Vietnam's President To Lam pledged to enhance the country's semiconductors and artificial intelligence (AI) industries during meetings with top US corporations in New York. These efforts come as Vietnam seeks to attract more investment from American tech firms and other leading companies.
On his first visit to the US as president, Lam is scheduled to meet with US President Joe Biden later on Wednesday. In earlier meetings, he engaged with companies such as Apple, Meta, Blackstone, and Warburg Pincus. Meta's Nick Clegg, President of Global Affairs, shared plans to produce virtual reality glasses in Vietnam, reflecting the country's growing appeal to global tech firms.
At a business forum, Lam signed cooperation agreements with US firms in areas like energy, AI, and a data center, further underlining Vietnam’s commitment to advancing its digital economy. Other participants included representatives from Amazon, Visa, Procter & Gamble, and AES.
Ted Osius, head of the US-Asean Business Council, emphasized Lam's commitment to growing the tech sector during his tenure, noting that digital transformation is key to Vietnam's future. Lam reaffirmed that developing the semiconductor and AI industries is a strategic priority for the country, positioning it for a new era of economic growth.
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