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.
GoTo Group has signed a new cloud services agreement with Alibaba Group Holding Ltd , which includes a commitment from Alibaba to maintain its current stake in the Indonesian ride-hailing and delivery provider for the duration of the deal. This partnership could provide a boost to GoTo’s stock , which has fallen approximately 80% since its 2022 initial public offering, following share reductions by Alibaba and other major investors. Alibaba, an early investor, has decreased its stake from around 9% in 2022 to about 7.5% by selling billions of shares. Under the terms of the five-year agreement , GoTo will leverage Alibaba's cloud infrastructure to support its extensive range of services, including ride-hailing and delivery in Indonesia and Singapore. This deal offers Alibaba a significant foothold in Southeast Asia, where its cloud division has faced intense competition. Although the companies did not disclose the deal’s value, it was confirmed through a non-binding memorandum ...