KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 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.