KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Quick Summary US stocks extended losses , with tech and crypto leading the sell-off Nasdaq 100 suffered its worst three-day drop since April Bitcoin plunged to around US$64,000 , wiping out gains since Trump’s election Weak US jobs data and AI valuation fears intensified risk-off sentiment What’s Driving the Sell-Off A fresh wave of selling hit Wall Street as investors reassessed lofty valuations tied to AI, software and crypto , just as US labour data showed cracks in economic momentum. The S&P 500 fell 1.2% , while the Nasdaq 100 extended its steepest three-day rout in months. Selling broadened beyond growth stocks, with nine of 11 sectors in the S&P 500 declining. Tech & AI in the Crosshairs Big Tech earnings added fuel to the fire: Amazon sank after flagging even heavier spending on data centres and chips Microsoft and Alphabet also slid on concerns that massive AI investments may...