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.
Summary Software stocks are facing panic-level selling as investors fear AI will erode pricing power, margins and competitive moats . Even industry giants like Microsoft are not spared, pushing the sector into its worst selloff since the 2008 crisis . While valuations now look cheap and technicals signal oversold conditions, investors remain unsure where the bottom is. What’s Driving the Selloff AI disruption fears are accelerating, with new tools from Anthropic and Alphabet raising concerns that software products can be replicated or replaced Traders describe the market as “get me out” selling , with little regard for valuation The S&P North American Software Index fell 15% in January , its worst monthly drop since October 2008 Microsoft’s 10% plunge last week showed that even the strongest platforms are vulnerable Earnings Are No Longer Enough Only 71% of software firms beat...