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Market Daily Report: Late Selling Pushes Bursa Malaysia Into Negative Territory At Close

KUALA LUMPUR, May 11 (Bernama) -- Late selling pressure dragged Bursa Malaysia into negative territory at the close, reversing earlier gains as profit-taking in heavyweight banking and transportation counters dampen overall market sentiment. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.75 points to 1,745.31 from Friday’s close of 1,748.06. The benchmark index, which opened 5.94 points firmer at 1,754.0, moved between 1,744.99 and 1,754.0 during the trading session. Market breadth was positive with gainers leading losers 562 to 558. A total of 636 counters were unchanged, 897 untraded, and 12 suspended. Turnover increased to 4.20 billion units worth RM3.17 billion compared with 3.31 billion units worth RM3.00 billion on Friday.

China Accuses Taiwan of 'Selling Out' Chip Industry to the U.S.

China-Taiwan Tensions Escalate Over Semiconductor Industry

  • China claims Taiwan is giving away its semiconductor industry to the U.S. in exchange for political support.
  • Reports suggest Taiwan Semiconductor Manufacturing Co. (TSMC) is in talks for a stake in Intel, though neither company has confirmed this.
  • Taiwan’s government denies knowledge of any overseas investment application from TSMC.

U.S. and Taiwan's Semiconductor Dispute

  • President Donald Trump has criticized Taiwan for taking U.S. semiconductor business and has pushed for more domestic chip production.
  • China's Taiwan Affairs Office accused Taiwan's ruling party (DPP) of 'selling out' TSMC to gain favor with the U.S.
  • Beijing claims Taiwan is using its chip industry as leverage for political independence.

Taiwan Responds to China's Allegations

  • Taiwan’s Mainland Affairs Council reaffirmed TSMC’s importance and vowed to collaborate with the industry to maintain leadership in advanced technology.
  • TSMC has not responded to the accusations.

Key Takeaways

  • China views Taiwan's potential semiconductor collaborations with the U.S. as a threat.
  • Taiwan denies that TSMC is being ‘given away’ and says it will protect its semiconductor dominance.
  • The U.S. remains Taiwan’s key international ally, adding geopolitical complexity to the semiconductor industry.

Summary:

  • China accuses Taiwan of using its chip industry as a bargaining tool for U.S. political support.
  • TSMC reportedly in talks with Intel, though unconfirmed by both companies.
  • Taiwan refutes the allegations and commits to maintaining its semiconductor leadership.
  • The U.S.-Taiwan semiconductor relationship remains a major geopolitical flashpoint.

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