KUALA LUMPUR: Bursa Malaysia opened higher on Monday amid renewed interest as Malaysia is seen benefitting from increased data centre investments due to its reputation as a strategically secure hub, following stronger-than-expected earnings from US chip giant Intel Corp.
At 9.12am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.33 points to 1,724.67 from last Friday’s close of 1,720.34.
Malacca Securities Sdn Bhd said in a note that while the planned US-Iran negotiations in Pakistan are unlikely to proceed, Malaysia remains well positioned to benefit from rising data centre investments.
“This trend is likely to attract more large cloud service providers (CSPs) offering highly scalable, high-performance computing, storage and data management services to enterprises.
“This is especially evident following Intel’s recent earnings outperformance,” it said in a note today.
The benchmark index had earlier started the session 4.13 points higher at 1,724.47.
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