[Massive SellOff Analysis] Bursa 5 Feb 2026

Zetrix gapped down this morning, but this is not a stock-specific sell-off.

The weakness is market-wide across Bursa.


Sharp eyes will notice money flowing into defensive stocks — banks, REITs, and palm oil.


This isn’t a doomsday sell-off, just a normal fund rotation. No need to panic.

US tech sell-off isn’t random — it started with AI ROI concerns and triggered a full risk-off chain.

Malaysia tech got hit as spillover, while funds rotated defensive.

Visual flow + breakdown here 




1. Global Tech: Alphabet's AI Spending Shock



  • Headline: Alphabet (Google) 2026 Capex projected to hit US$185 Billion, nearly double previous year.

  • Key Facts: While Google Cloud revenue surged 48%, Alphabet’s management shocked markets by forecasting capital expenditure between US$175B–$185B for 2026, far exceeding the US$119B analyst consensus. This massive spend on AI infrastructure has sparked immediate concerns regarding profit margins.

  • Impact/Significance: The "AI Payoff" timeline is being questioned. Investors are now weighing explosive cloud growth against the unprecedented cost of staying competitive against Microsoft and OpenAI, leading to high volatility in tech heavyweights.

2. Software Sector: Selling Wave Meets Institutional Support

  • Headline: JPMorgan and Jensen Huang (Nvidia) move to support software stocks amid "indiscriminate" sell-off.

  • Key Facts: Software stocks (including Salesforce and Adobe) have faced heavy selling due to fears of AI disrupting traditional business models. However, JPMorgan and Nvidia’s CEO Jensen Huang have publicly backed the sector, suggesting the dip is an overreaction and that software remains the "delivery vehicle" for AI value.

  • Impact/Significance: This signals a "buy the dip" opportunity for institutional players, though retail sentiment remains fragile as investors rotate out of software into hardware and energy.


3. Crypto Crisis: Bitcoin Faces "Faith Crisis" Below $72k

  • Headline: Bitcoin plunges to 15-month low, briefly dropping below US$72,000.

  • Key Facts: Following a 42% decline from its October peak, the world’s largest cryptocurrency is suffering from a liquidity and "faith crisis." Global risk-off sentiment and a strengthening USD have triggered a massive exit from crypto assets.

  • Impact/Significance: Technical analysts warn that if Bitcoin fails to hold the $71,000 support level, it could trigger a further retracement toward the $68,000 zone, affecting local digital asset sentiment.



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