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.
Simple Summary World stocks extended losses for a third day , heading for the worst week since November Tech and AI-linked stocks led the sell-off , with software shares hit hard Silver and cryptocurrencies plunged , then staged shaky rebounds Markets are beginning to price in higher odds of a Fed rate cut What’s Driving the Market Rout Global markets stayed under pressure as volatility ripped through equities, precious metals and cryptocurrencies . MSCI All-Country World Index slipped 0.1% , on track for its worst week since mid-November Asia-Pacific ex-Japan stocks fell 0.8% S&P 500 e-mini futures: -0.3% Nasdaq e-mini futures: -0.5% The selling followed a sharp Wall Street rout, where fears are mounting that new AI models may erode software profit margins , just as US labour-market data weakens . AI Optimism Meets Reality Investors are rotating away from crowded AI trades. “The market is starting to ask: what is the payback? ” said P...