KUALA LUMPUR, Aug 18 (Bernama) -- Bursa Malaysia ended higher on Tuesday, outperforming most regional markets as investors continued to rotate towards commodity and plantation-related stocks, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.47 points, or 0.43 per cent, to 1,733.36 compared with Monday’s close of 1,725.89. The benchmark index opened 1.63 points higher at 1,727.52, and fluctuated between 1,723.60 and 1,734.53 throughout the day. On the broader market, losers outpaced gainers 762 to 438, while 576 counters were unchanged, 1,075 untraded and 16 suspended. Turnover expanded to 3.74 billion units valued at RM2.91 billion from 3.45 billion units valued at RM2.74 billion on Monday.
Shares of Dagang NeXchange Bhd (KL) experienced a significant rally on Tuesday, reaching their highest level in over a month after the announcement of a partnership with Google to provide cloud services in Malaysia.
The stock surged by 16%, gaining 5.5 sen to reach 39 sen, a price last seen on August 26, 2024. At 9:30 AM, the shares were trading at 38.5 sen, resulting in a market capitalization of RM1.34 billion. Trading volume reached 51 million shares by that time.
This strategic partnership with Google positions DNeX to enhance its cloud service offerings, potentially boosting its market presence and revenue streams in the rapidly growing technology sector. Investors responded positively to the news, driving up the share price significantly.
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