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.
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 ...