KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Tech Giant Calls for Revisions to US Trade Policies
- Microsoft will push the Trump administration to ease AI chip export restrictions for key US allies, including India, Switzerland, and Israel, according to a report by The Wall Street Journal on Thursday.
- The proposal, expected to be published in a Microsoft blog post, argues that current curbs could drive allies toward China for AI infrastructure needs.
- Microsoft did not immediately respond to requests for comment.
US-China AI Battle Intensifies
- Washington’s expanded AI chip export restrictions—introduced during Joe Biden’s final days in office—aim to limit China’s access to advanced computing power.
- These measures have hurt US chipmakers and Big Tech companies that rely on China as a major market for semiconductors.
- China is capitalizing on US export restrictions, promoting itself as a more reliable AI technology partner for other countries, Microsoft President Brad Smith told WSJ.
DeepSeek Disrupts AI Market
- Microsoft identified DeepSeek as one of seven rising Chinese AI startups that could challenge US dominance.
- DeepSeek’s rapid innovation—most recently with its low-cost AI models that triggered a global AI stock sell-off—has shifted industry focus toward AI inference.
US Policy Uncertainty & Potential Adjustments
- WSJ reports that Trump officials are reviewing ways to strengthen restrictions while simplifying export-control rules.
- Microsoft's focus is on training AI models—feeding algorithms data to refine decision-making—a critical component of AI development.
- The broader AI chip export debate underscores the growing competition between the US and China over AI supremacy.
As the AI industry rapidly evolves, the Trump administration’s response to Microsoft’s request could shape the future of AI infrastructure and global partnerships.
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