KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
ARK Invest Returns to Alibaba
Alibaba Group Holding Ltd. shares surged in New York on Wednesday, buoyed by renewed interest from prominent tech investor Cathie Wood. Her firm ARK Invest acquired about $16.3 million worth of Alibaba stock across its ARK Fintech Innovation ETF and ARK Next Generation Internet ETF on Monday, marking its first exposure to the Chinese e-commerce giant since 2021.
Stock Performance and Market Reaction
Alibaba’s U.S.-listed shares jumped 8.2% on Wednesday, following a 9% rally in Hong Kong earlier this week after its annual technology conference. Year-to-date, Alibaba’s U.S. stock has gained 92%, outperforming broader Chinese tech peers.
AI and Cloud Expansion Plans
At its flagship conference, Alibaba unveiled Qwen3-Max, a large language model with over 1 trillion parameters, claiming benchmark advantages over rivals such as Anthropic’s Claude and DeepSeek. The company also announced a partnership with Nvidia to accelerate the development of humanoid robots in what it described as “physical AI.”
CEO Eddie Wu pledged to increase capital expenditure on cloud and AI infrastructure beyond its earlier US$53 billion target. The company also confirmed plans to launch its first overseas data centers in Brazil, France, and the Netherlands.
ARK’s Strong Year
Wood’s flagship ARK Innovation ETF (ARKK), which does not hold Alibaba, has gained 47% in 2025. Meanwhile, ARKW and ARKF, which now include Alibaba, are both up more than 50% year-to-date.
Comments
Post a Comment