YTL Power falls over 8% as data centre-linked shares retreat
The utility lost over RM3 billion in market capitalisation, while YTL Corp and Nvidia contract manufacturer NationGate also declined.
YTL Power International Bhd led declines among Malaysian data centre-linked stocks on Nov 12, with its shares falling to RM4.40. The drop of 39 sen, or over 8%, erased over RM3 billion from the company's market capitalisation.
Trading volume in YTL Power reached nearly 41 million shares, placing it among Bursa Malaysia's most active counters. Following the decline, the multi-utilities company had a market value of RM38 billion.
YTL Power is partnered with Nvidia on data centres. It operates an artificial intelligence facility in Johor that uses some of the US chipmaker's latest chips.
Parent company YTL Corp Bhd also continued to lose ground. Its shares finished at RM1.89 after falling nine sen, or 4.6%, leaving its market capitalisation at RM22 billion. Nvidia contract manufacturer NationGate Holdings Bhd dropped to RM1.78, down nine sen or 4.81%.
The selling also affected companies developing data centres, including Mah Sing Group Bhd, Sime Darby Property Bhd, Gamuda Bhd and Sunway Construction Group Bhd.
