An AI Memorandum of Understanding and the opening of the Malaysian stock market and two major technology companies skyrocketed

The Federal Reserve kept interest rates unchanged, in line with market expectations, while hinting that interest rates will only be cut once this year. However, the May consumer price index released yesterday by the US shows that inflation is cooling down, raising investors' expectations for the Federal Reserve to cut interest rates. The three major US stock indices had mixed ups and downs. Among them, the Nasdaq surged 1.53%, while the Dow Jones index fell slightly by 0.09%. As of 9:15 a.m., Malaysian stocks had risen slightly by 5.51 points, or 0.34%, to a provisional report of 1614.46 points.

Malaysian stocks opened trading at 1612.58 points this morning, 3.63 points higher than 1608.95 points when the market closed yesterday.

As of 9:15 a.m., the total trading volume of Malaysian stocks was 480.47 million shares, with a trading value of RM293.15 million; individual stocks rose and fell, with 361 rising stocks, 189 falling stocks, and 362 stocks with no rise or fall.

AGMO Holdings (AGMO, 0258, GEM) announced yesterday that it has signed a one-year Memorandum of Understanding (MoU) with SNS Network Technology (SNS, 0259, GEM) to discuss the launch of the first digital transformation service (DXaaS) for generative artificial intelligence in China.

The two sides will exchange technology and knowledge, explore the joint launch of generative artificial intelligence digital transformation services, and promote, market and sell this service to their respective customer groups.

As a result, AGMO Holdings was sought after by investors. The stock price surged 24.6% or 15.5 cents to 78.5 cents this morning, with a turnover of 26.91 million shares, making it the second most popular stock; SNS Internet Technology also rose 5.5 cents or 6.28% to 93 cents under the stimulus of the news, and the turnover reached 27.75 million shares, making it the most popular stock.