KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Global markets are entering a more volatile phase as investors reassess lofty technology valuations and the sustainability of massive AI-related capital spending. Asian equities traded mixed on Wednesday following a sharp sell-off in global technology and semiconductor shares, while bond markets signaled growing demand for safety amid concerns over economic uncertainty and interest rate expectations. What Changed? Just weeks ago, investors were focused on: AI-driven earnings optimism Falling geopolitical risks Expectations of monetary easing Now, markets are increasingly focused on: Rising AI infrastructure spending Higher-for-longer interest rates Elevated valuations in technology stocks Increased market volatility The result is a shift from momentum-driven buying toward more selective risk-taking. Technology Stocks Under Pressure The latest sell-off was led by technology and semiconductor names after investors began questioning whether current valuations fully reflect future earnings...