KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Key Takeaway: Nebius Group NV ( NBIS ) surged after announcing a multi-billion-dollar infrastructure agreement with Microsoft (MSFT) , a deal analysts say validates the neocloud model and could pave the way for more partnerships with hyperscalers and AI firms. Deal Overview Nebius signed a US$17.4 billion agreement with Microsoft through 2031 , with the potential to rise to US$19.4 billion if additional services are added. The deal will provide dedicated cloud capacity to Microsoft from a new Vineland, N.J. data center starting later this year. The structure allows Microsoft to expand Azure cloud capacity without significant capital expenditure, while Nebius will finance its data-center buildout through cash flows from the deal and debt secured against the contract . Analyst Views Validation Moment: D.A. Davidson analyst Alex Platt called the agreement a turning point for Nebius, noting it positions the ...