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...
Advanced Micro Devices (AMD) shares surged 7.7% to US$234.98 on Wednesday after HSBC analyst Frank Leeraised his price target to US$310 from US$185, maintaining a Buy rating.
Lee said AMD’s recent deal with OpenAI implies a massive AI revenue upside that is still “underestimated by consensus.” He estimates the partnership could generate US$80 billion in chip revenue over the next five years.
The agreement will see OpenAI deploy six gigawatts of AMD GPUs—starting with MI450 GPU servers in the second half of 2026. Lee added that the MI450 is expected to rival Nvidia’s products when launched late next year.
Meanwhile, AMD and Oracle also announced an expanded AI infrastructure partnership, with Oracle set to deploy tens of thousands of AMD GPUs from Q3 2026.
The Nasdaq Composite rose 0.6% while Nvidia edged 0.1% lower.
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