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.
Key Takeaway: Malaysia’s IPO market outperformed Southeast Asia in 2024, achieving the highest listings, funds raised, and market capitalisation . Malaysia has cemented its position as the regional IPO leader , with 46 listings as of Nov 15, surpassing last year’s 32 and exceeding Bursa Malaysia’s target of 42 listings . This marks the highest number of IPOs since 2006. Key Highlights: Record-Breaking Fundraising: Total funds raised reached US$1.5 billion (RM6.7 billion) , the highest since 2017 . Market capitalisation hit US$6.6 billion (RM30 billion) , doubling 2023’s figure and the highest since 2013 . ACE Market Dominates: The ACE Market recorded 34 listings , the highest since its inception in 2009. Sectors leading the listings include: Industrial products (17) Consumer (16) Technology, media, and communications (4) Energy and resources (4) Life sciences and healthcare Investor Confidence: IPOs saw oversubscription rates exceeding 200 times , driven by foreign investor particip...