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Malaysian Blue-Chip Index Rebounds; Zetrix AI Shares Rise 6%

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Malaysian shares closed slightly higher to end in the green on Monday, reversing losses of the previous session.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 6.69 points to end 0.4% higher at 1,714.79.

Malaysia is inclined towards utilizing Huawei Technologies' AI chips to power its AI efforts, despite opposition from the US government, Bloomberg reported Monday, citing people familiar with the matter. The country is eyeing Huawei's hardware to amp up its 2 billion ringgit initiative that will give the country control over national data, the report said.

Malaysia's government and corporate bonds attracted a record $3.9 billion in foreign investment in August, Bloomberg News reported Monday, citing Bank Negara Malaysia data. The inflow was the largest monthly amount recorded since comparable data began in 2016, as investors bet on Malaysia benefiting from the artificial intelligence boom.

In corporate news, shares of Zetrix AI (KLSE:ZETRIX) jumped about 6% on today's close after it terminated its deal to acquire a 50% stake in MYEG Ventures from Next Lion for 130 million ringgit.

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