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 BYD has lost over US$60 billion in market value since May amid a sharp sell-off China EV demand is cooling faster than expected , with subsidies fading Rising battery and chip costs are crushing margins Investors fear widespread earnings downgrades across the sector What’s Happening Shares of BYD Co have come under heavy pressure, with Hong Kong-listed stock down about 7% this week following weak sales data. The decline extends a months-long sell-off that has erased more than US$60 billion in market capitalisation. The rout has spilled over to other Chinese EV names, amplifying concerns over the sector’s profitability and growth outlook . Demand Is Cooling — Fast Investors were already bracing for slower growth in 2026 as government subsidies were reduced , but the pace of the slowdown has surprised the market. BYD January domestic sales: 109,569 units , ~50% lower YoY XPeng : Deliveries down ov...