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...
Shares of Advanced Micro Devices (AMD) came under pressure as the chipmaker recorded the largest jump in short-selling activity among semiconductor stocks, even as optimism over its artificial intelligence prospects continues to drive strong gains this year.
AMD Short Volume Climbs
Short volume on AMD rose 5.7 million to 12.6 million shares on Wednesday — the biggest increase in the semiconductor group, according to exchange data. The total represents about 11.7% of all shares traded that day.
The surge came as AMD shares rallied 9.4% after more analysts boosted their price targets.
HSBC’s Frank Lee raised his target to $310 from $185, citing massive AI revenue potential from its new OpenAI partnership.
Wedbush’s Matthew Bryson lifted his target to $270 from $190.
Despite the rise in short trading, short interest — the total amount of borrowed shares yet to be covered — fell to 37.9 million shares as of end-September, the lowest since May. AMD stock has gained 97% year-to-date, supported by partnerships with Oracle and OpenAI that could expand its market share against rival Nvidia.
Other Stocks with Notable Short Activity
Rigetti Computing (RGTI) dropped 6.6% Thursday as short volume jumped to 25.3 million shares from 23.4 millionthe previous session. The decline follows a 269% surge in 2025 that left the stock technically overbought.
D-Wave Quantum (QBTS) also saw elevated short activity after a 400% rise this year, suggesting growing skepticism about the sustainability of its rally.
Other companies that recorded significant increases in short volume include:
NuScale Power (SMR)
Hims & Hers Health (HIMS)
QuantumScape (QS)
Bank of America (BAC)
Hewlett Packard Enterprise (HPE)
CVS Health (CVS)
First Horizon National (FHN)
Analyst Outlook
While the increase in short-selling highlights growing caution, many analysts maintain a bullish outlook on AI-driven semiconductor demand. AMD’s long-term agreements with OpenAI and Oracle are viewed as pivotal in strengthening its position in the AI GPU market currently led by Nvidia.
“OpenAI’s partnership implies massive AI revenue upside potential, which is still under-estimated by consensus,” HSBC’s Lee said.
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