KUALA LUMPUR: Bursa Malaysia opened broadly lower on Friday, with selling pressure dominating trading following Wall Street’s sharp overnight losses amid renewed concerns over artificial intelligence (AI)-related stocks.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 16.50 points or 1%, to 1,619.36 from Thursday’s close of 1,635.86.
Market breadth was negative, with losers outpacing gainers 640 to 67, while 155 counters were unchanged, 1,911 untraded and 10 suspended. Turnover stood at 391.82 million units worth RM206.90 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street ended sharply lower as the AI-stocks rout re-emerged, prompting some investors to move funds into US Treasuries.
