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: EchoStar (SATS) surged after agreeing to sell spectrum rights to SpaceX , a deal that injects much-needed cash, resolves regulatory pressure, and positions SpaceX to expand its direct-to-device (D2D) services . Deal Overview EchoStar has agreed to sell part of its wireless spectrum portfolio to SpaceX in a transaction valued at US$17 billion . The deal addresses a looming FCC probe that threatened EchoStar’s licenses for underuse, while simultaneously advancing SpaceX’s long-held goal of providing direct-to-device mobile services via its Starlink satellite network . Strategic Impact for EchoStar Gains a significant cash infusion, strengthening its balance sheet. Avoids potential FCC penalties or loss of licenses tied to spectrum underutilisation. Marks the end of EchoStar’s ambition to be a fourth standalone U.S. wireless competitor , as originally envisioned in the Sprint–T-Mo...