KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Key Takeaways North America remains skeptical about China’s AI sector, while Asian investors are going all-in . China’s AI boom fuels a $46 billion tech rally domestically, despite concerns from global investors. Hedge funds profit from market volatility , while long-only emerging market (EM) funds double down on China. Valuation gaps widen: Alibaba trades at 10x earnings , while Nvidia sits at 32x . The US shifts its BTC reserve plan to a broader 'crypto reserve' , sparking mixed reactions. 1. The AI Divide: Silicon Valley vs. Shenzhen Western Investors Stay Skeptical: 62% of US investors believe China’s AI lags years behind the US. 78% demand immediate returns before committing capital. Only 22% believe AI can significantly move Chinese tech stocks . Asia Sees AI as China’s Next $1 Trillion Growth Driver: 93% of Chinese traders say AI is the biggest tech opportunity. "ROI takes a backseat to compute power." Investors fo...