KUALA LUMPUR, June 8 (Bernama) -- Bursa Malaysia recorded a decline of 0.82 per cent at the close today with the diversified composition of the FTSE Bursa Malaysia KLCI (FBM KLCI) helping to cushion the impact of global market weakness. Global markets were jittery amid resurfacing geopolitical tensions in West Asia and heavy selling in global technology counters. At 5 pm, the FBM KLCI finished 13.91 points lower at 1,679.52 from last Friday's close of 1,693.43. The benchmark index opened 9.89 points weaker at 1,683.54 and traded between 1,676.95 and 1,684.14 throughout the session. Losers surpassed gainers in the broader market by 916 to 340, while 455 counters were unchanged, 964 untraded and 13 suspended.
Nvidia CEO Jensen Huang has downplayed the recent tech stock selloff, calling it a buying opportunity and reaffirming that the AI growth cycle is still in its early stages.
Tech Selloff Driven by Rate and Valuation Concerns
Global technology stocks have come under pressure amid:
- Rising interest rate concerns
- Fears of overvaluation in AI-related stocks
The Kospi fell as investors trimmed exposure to AI-driven names, which had previously led a strong global rally.
Nvidia Signals Long-Term Confidence in AI
Huang emphasized that the current market pullback does not reflect weakening fundamentals:
- AI infrastructure buildout is “just beginning”
- The sector remains in an early investment phase
He described the correction as a chance for investors to accumulate positions at more attractive valuations.
Strategic Partnership Strengthens AI Ecosystem
Nvidia also announced a multi-year collaboration with SK Hynix to develop next-generation memory chips.
The partnership highlights:
- Intensifying competition with Samsung Electronics
- Growing demand for high-performance AI memory solutions
AI Positioned as Next-Generation Infrastructure
Huang reiterated a key structural theme:
- AI will become foundational global infrastructure, similar to the internet
- This will drive sustained demand for data centers, chips, and computing power
This reinforces Nvidia’s position at the center of the AI value chain.
Investor Takeaways
- Recent tech selloff reflects valuation and rate concerns, not structural weakness.
- Nvidia sees the pullback as a buying opportunity in AI stocks.
- AI infrastructure growth remains in early stages, supporting long-term demand.
- Strategic partnerships strengthen semiconductor ecosystem positioning.
- Investors should focus on long-term AI trends rather than short-term volatility.
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