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Market Daily Report: Bursa Malaysia's Key Index Rebounds 0.27 Pct On Heavyweight Buying

KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing.  On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion.   Dealers said that investors were cautious following geopolitical developments in Asia. 
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Unisplendour Plans US$1 Billion Hong Kong Listing to Expand Overseas

Chinese IT Firm Picks Banks for Second Listing Amid China’s Market Shift

  • Unisplendour Corp, a Beijing-based IT services provider, is planning a second listing in Hong Kong to raise around US$1 billion (RM4.42 billion) to fuel its overseas expansion.
  • BNP Paribas SA, China Merchants Bank International, and CSC Financial Co have been tapped as lead banks for the offering, with more banks potentially joining the deal.
  • The company confirmed it is exploring equity financing in Hong Kong but has not finalized the plan or a listing timeline.

China’s IPO Shift to Hong Kong

  • Chinese firms are increasingly turning to Hong Kong for capital as China limits domestic stock sales to stabilize its equity market.
  • Other major Chinese companies seeking Hong Kong listings include:
    • Contemporary Amperex Technology Co Ltd (CATL) – the world’s largest battery maker
    • Jiangsu Hengrui Pharmaceuticals Co – a major drugmaker
    • Foshan Haitian Flavouring & Food Co – a leading condiment producer
  • These deals support Hong Kong’s IPO revival, with 2025 listings projected to more than double to US$22 billion, as market confidence improves following a 17% rise in the Hang Seng Index.

Unisplendour’s Market Position & Growth Strategy

  • The company specializes in cloud computing, software development, servers, and storage systems.
  • Its Shenzhen-listed shares have risen 12% in 2025, valuing the company at approximately 90 billion yuan (RM54.85 billion).

Hong Kong’s IPO Rebound

  • The influx of Chinese firms listing in Hong Kong signals confidence in the city’s financial market recovery.
  • Higher valuations and regulatory easing could further boost IPO activity, making Hong Kong a preferred listing destination for Chinese firms eyeing global expansion.
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