KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
AI Industry in a Geopolitical Crossfire Alibaba's chairman, Joe Tsai , recently raised concerns over a potential AI spending bubble , adding a new layer of uncertainty to an already volatile market. During a Hong Kong investor conference, Tsai expressed astonishment at the massive capital outlays by U.S. tech giants in the AI and data center space, marking the latest example of how AI is turning into a geopolitical battleground, particularly between the U.S. and China. Key Takeaways: Tsai's Concerns About Overspending : Tsai cautioned that the AI boom might be unsustainable, signaling a global arms race for dominance in the sector. His comments come on the heels of similar warnings from Baidu’s CEO Robin Li , who noted that only a small percentage of companies in the AI space will actually create significant value. Impact on Nvidia and Competitors : Tsai’s remarks appeared to influence market sentiment, with Nvidia (NVDA) share...