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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day.  The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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Chinese EV Truckmaker Zhizi Eyes $200M Hong Kong IPO

Zhizi’s IPO Plans & Market Position

  • Zhizi Automobile Technology Co is considering a Hong Kong IPO to raise about $200 million (¥1.44 billion).
  • Discussions with advisers are ongoing, but no final decision has been made.

China’s Growing EV Truck Market

  • China leads the global EV market due to cost advantages, technological advancements, and battery material access.
  • Electric truck sales in China more than doubled in 2024, highlighting strong demand for commercial EVs.
  • Zhizi manufactures electric trucks, tractors, and commercial vehicles, competing with Windrose Technology Inc., another EV truckmaker seeking a public listing.

Zhizi’s Background & Industry Expansion

  • Zhizi was founded in 2022 by DECH Future Automobile Technology Co., a joint venture with Shaanxi Automobile Holding Group, one of China’s largest heavy-duty truckmakers.
  • The IPO could help Zhizi expand production and compete in China’s rapidly growing commercial EV segment.

Summary:

  • Zhizi is considering a $200M Hong Kong IPO to expand its EV truck business.
  • China's EV truck market is booming, with sales more than doubling in 2024.
  • Zhizi was founded by Shaanxi Auto Holding and aims to strengthen its market position.
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