KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Tencent Enters AI Speed Race
- Tencent has launched its latest AI model, Hunyuan Turbo S, claiming it can respond to queries faster than DeepSeek’s R1—one of the most widely adopted AI models globally.
- The tech giant says Turbo S can generate answers in under a second, setting it apart from models like DeepSeek R1 and Hunyuan T1, which require more processing time before responding.
Performance and Competition
- Turbo S reportedly matches DeepSeek-V3 in fields like knowledge, mathematics, and reasoning.
- DeepSeek-V3 has already surpassed OpenAI’s ChatGPT in app store downloads, adding pressure on Tencent and other Chinese tech firms to accelerate AI advancements.
- DeepSeek did not immediately respond to Tencent’s performance claims.
China’s AI Arms Race Intensifies
- DeepSeek’s rapid global success, particularly its adoption in Silicon Valley, has forced Chinese tech giants into a race to enhance their AI models.
- Last month, Alibaba launched Qwen 2.5-Max, claiming it outperforms DeepSeek-V3 across various benchmarks.
- Tencent has also reduced Turbo S’ usage costs significantly, a direct response to DeepSeek’s open-source, low-cost strategy that has disrupted AI pricing in China.
What’s Next?
- With China’s AI firms aggressively pushing new models, pricing wars and rapid iterations are expected to continue.
- As Tencent, Alibaba, and DeepSeek battle for AI supremacy, the global AI market could see faster, more affordable models entering the competition against OpenAI and Google’s Gemini.
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