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Market Daily Report: Strong Buying Lifts Bursa Malaysia At Close, CI Up 1.04 Pct

KUALA LUMPUR, March 17 (Bernama) -- Bursa Malaysia extended gains to a third consecutive session today, driven by broad-based buying across various sectors following the recent strong sell-off, in line with the performance of regional markets, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 15.66 points, or 1.04 per cent, to 1,527.81 from Friday’s close of 1,512.15.   The benchmark index opened 5.43 points firmer at 1,517.58 -- its intraday low -- and peaked at 1,531.63 during the mid-morning session and maintained its momentum throughout the afternoon session.   On the broader market, gainers thumped decliners 708 to 297, while 425 counters were unchanged, 994 untraded, and seven suspended. Turnover improved to 3.28 billion units worth RM2.40 billion from 3.24 billion units worth RM2.5 billion on Friday.
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East vs. West: How Investors View BABA, BIDU, and China's AI Developments

Key Takeaways

  • North America remains skeptical about China’s AI sector, while Asian investors are going all-in.
  • China’s AI boom fuels a $46 billion tech rally domestically, despite concerns from global investors.
  • Hedge funds profit from market volatility, while long-only emerging market (EM) funds double down on China.
  • Valuation gaps widen: Alibaba trades at 10x earnings, while Nvidia sits at 32x.
  • The US shifts its BTC reserve plan to a broader 'crypto reserve', sparking mixed reactions.

1. The AI Divide: Silicon Valley vs. Shenzhen

Western Investors Stay Skeptical:

  • 62% of US investors believe China’s AI lags years behind the US.
  • 78% demand immediate returns before committing capital.
  • Only 22% believe AI can significantly move Chinese tech stocks.

Asia Sees AI as China’s Next $1 Trillion Growth Driver:

  • 93% of Chinese traders say AI is the biggest tech opportunity.
  • "ROI takes a backseat to compute power." Investors focus on AI infrastructure over quick returns.
  • 3-5 year investment horizons are widely accepted.

The difference?
US investors look for AI applications, while China prioritizes AI infrastructure—with massive GPU farms in place.

2. Where Smart Money Is Flowing

  • $1.3B in daily southbound purchases is keeping Hong Kong tech afloat.
  • Hedge funds have increased net long positions on the HSTECH Index by 46% since January, though they are now hedging ahead of China’s “Two Sessions” meeting.
  • Global mutual funds remain underweight on China by 380bps despite the rally.

JPMorgan’s Verdict:

"Only EM-dedicated funds are playing China seriously. Global allocators treat it like a zoo exhibit—fascinating, but untouchable."

3. The $100B AI Reality Check

Bullish Arguments ($300B+ Upside):

  • Alibaba Cloud’s rapid growth (projected 27% CAGR, reaching CNY240B by 2028).
  • DeepSeek’s R1 model cuts AI infrastructure costs by 3x vs. Western peers.
  • Policy tailwinds—China’s "AI+" manufacturing push will be key in upcoming stimulus plans.

Bear Traps:

  • China’s consumer AI adoption remains weak (17% vs. 41% in the US).
  • Cloud capex concerns—Tencent and Baidu are spending $7B on GPUs, but can demand keep up?
  • Regulatory uncertainty—New data laws could cut 40% of AI training datasets.

4. The Trump Card: China’s AI Safety Net

The Big Question: Will China let its AI sector collapse?

  • 87% of institutional investors expect Beijing to intervene and support tech valuations.
  • Hedge funds aren’t just betting on companies—they’re betting on Beijing’s resolve to win the AI race.

5. The US Crypto Reserve Curveball

The US government’s planned BTC reserve has evolved into a broader crypto reserve, catching markets off guard.

Key Changes:

  • Reserve Breakdown: 75% BTC, 11% ETH, 4% SOL, 10% other assets.
  • New Decision Makers: A Digital Asset Reserve Committee will oversee allocations.
  • Unclear Funding Model: Options include using gold reserves, issuing bonds, or reallocating Fed assets.

Biggest Concern?
Legal uncertainty—can the US government create a crypto reserve via executive order, or will it require new legislation?

Final Take: Who Wins the AI Race?

China’s AI sector is at a pivotal moment.

  • Western investors demand quick profits.
  • Asian investors play the long game, betting on infrastructure.
  • Beijing’s support remains a wildcard.

Is AI about building apps—or building supercomputers?
That’s the trillion-dollar question.

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