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.
Roche Holding AG announced plans to increase manufacturing capacity in China to serve the country’s rapidly growing market, as tensions between the US and China push pharmaceutical companies to split some of their production. The Swiss firm will produce more diagnostic products and increase capacity for medicines in China, with CEO Thomas Schinecker describing the strategy as “China for China” production.
"China is simply unbelievably big," Schinecker said, emphasizing that Roche will continue to invest in the country to meet its growing demand. While Roche’s drug substances are produced outside China, the company will focus on the final production stages in China, including fill and finish processes.
Schinecker highlighted that geopolitical tensions between the US and China could potentially impact the supply of raw materials essential for pharmaceutical manufacturing, expressing hope that the situation would ease to avoid disruptions for patients.
In August, Roche announced a three billion yuan (US$420 million) expansion of its diagnostics production site in Suzhou, which is expected to be completed by 2028.
Roche joins other pharmaceutical giants, such as AstraZeneca, in separating their manufacturing networks to ensure that medicines for key markets like the US, China, and Europe are produced independently.
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