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.
Talos Trading Inc, a New York-based software provider for digital-asset trading, plans to double its Asia-Pacific (Apac) headcount within the next 12 months. Talos views Asia as a key market due to the region's strong crypto presence and regulatory clarity in jurisdictions such as Hong Kong, Singapore, and Japan.
“Asia punches above its weight in terms of contribution to the bottom line of global digital-asset companies,” said Samar Sen, Talos’ head of Apac. Many of Talos’ top clients by trading volume are based in Asia, and the company’s hiring focus will be on business development, client services, and product and engineering roles.
Despite the US being a major hub for digital assets, a Securities and Exchange Commission (SEC) crackdown has shifted momentum to Asian hubs. Prominent players like OKX, Coinbase Global, and GSR Markets have obtained Singapore permits, while Hong Kong has rolled out crypto-focused exchange-traded funds alongside its licensing regime.
Founded in 2018, Talos was last valued at US$1.25 billion in a 2022 funding round that raised US$105 million from investors like General Atlantic, Citi, and Wells Fargo Strategic Capital. Institutional interest in Asia has surged recently, with hedge funds and asset managers entering the digital-asset space, according to Sen. Banks, which previously stayed on the sidelines, are now playing a more active role in the market.
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