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.
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...