KUALA LUMPUR (Aug 5): Construction and property stocks, which have rallied on data centre-driven frenzy, were among the selling targets on Monday as market sentiment turned cautious amid external headwinds.

The Bursa Malaysia Construction Index, which tracks 49 stocks in the sector, fell 4.17% to its one-month low of 273.13 points on Monday, while Bursa Malaysia's Property Index, which counts 97 real estate developers, declined 4.44% to a nearly three-month low of 1,037.75 points.

Technology stocks on Bursa Malaysia have plummeted since Friday amid concerns over disappointing earnings of their global counterparts and design troubles of chips powering artificial intelligence. There are now also fears over the health of the US economy.

At the time of writing, Gamuda Bhd (KL:GAMUDA) fell 30 sen or 3.93% to RM7.34, followed by Sunway Construction Group Bhd (KL:SUNCON) as it dropped 23 sen or 5.41% to RM4.02, while IJM Corp Bhd (KL:IJM) was down seven sen or 2.17% to RM3.16.

Meanwhile, Mah Sing Group Bhd (KL:MAHSING) dropped 14 sen or 8.05% to RM1.60 followed by Sime Darby Property Bhd (KL:SIMEPROP) with a 10 sen drop or 6.71% lower to RM1.39 and UEM Sunrise Bhd (KL:UEMS) slipped eight sen or 7.55% to 98 sen.

https://www.theedgemarkets.com/node/721673