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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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Nvidia Stock Drops Amid AI Chip Export Concerns

Shares of Nvidia (NVDA) tumbled 9.3% on Monday as the company faces increasing scrutiny over its advanced AI chips reaching China despite U.S. export controls.

Key Market Reactions

  • Nvidia (NVDA): Down 9.3% at $113.30 (as of 3:32 p.m. ET).
  • S&P 500 Index (SPX): Dropped 2.1%.
  • Advanced Micro Devices (AMD): Fell 2.3%.
  • Broadcom (AVGO): Declined 6.9%.

Nvidia had gained 4% on Friday, but remains under pressure following last week’s earnings report despite exceeding revenue expectations.

Tariff & Export Control Worries

  • President Donald Trump announced new tariffs on Canada, Mexico, and China, set to take effect on Tuesday.
  • Nvidia is under renewed scrutiny over reports that its AI chips are reaching Chinese customers despite U.S. restrictions.
  • The Wall Street Journal reported that some Chinese sellers are promising delivery of Nvidia's Blackwell chips within six weeks, allegedly routed through Malaysia, Vietnam, and Taiwan.

Singapore at the Center of Investigations

  • Nvidia's Singapore sales are drawing U.S. lawmakers’ attention, pushing for tighter export regulations.
  • Singaporean authorities charged three men in a fraud case linked to potential violations of U.S. export controls involving Nvidia semiconductors.
  • Nvidia has pledged to investigate potential diversion cases and take appropriate action.

Investor Takeaways

  • Stock remains volatile as geopolitical risks mount.
  • U.S.-China tensions could lead to tighter AI chip export controls, affecting Nvidia’s global sales.
  • Regulatory actions in Singapore and elsewhere may impact Nvidia’s international supply chain.
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