Persistent selling drags Bursa Malaysia lower as DeepSeek AI launch sparks market jitters

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Persistent selling drags Bursa Malaysia lower as DeepSeek AI launch sparks market jitters
Bursa ClosingStocksBursa Malaysia
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KUALA LUMPUR, Jan 28 — Bursa Malaysia extended its subdued trading to close lower today, dragged by persistent selling as the market was influenced by Wall Street’s sharp...

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The barometer index opened 1.53 points lower at 1,557.44 -- its high for the day, and moved to a low of 1,544.87 during the morning session. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that while DeepSeek’s breakthrough could be viewed as a positive development for the AI sector, it has instead heightened investor concerns.

“Nevertheless, despite these short-term challenges, Malaysia’s equity market retains significant potential for long-term growth,” he told Bernama. For actives, YTL Power lost 11 sen to RM3.11, Nationgate slid nine sen to RM1.79, YTL Corp and Gamuda eased three sen each to RM1.90 and RM4.03 respectively, while Oriental Kopi rose two sen to 84.5 sen.

By sector, the Financial Services Index declined by 137.45 points to 18,792.11, the Industrial Products and Services Index eased 0.45 of-a-point to 165.01, and the Energy Index shed 1.82 points to 822.48.The Main Market volume trimmed to 1.10 billion units worth RM1.80 billion against 1.31 billion units worth RM2.08 billion on Monday.

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