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.
Historic First-Day Surge Figma Inc. delivered one of the most spectacular debuts in IPO history, with shares closing 250% above their $33 offering price at $115.50. This marked the first time a company raising over $500 million in an IPO tripled its stock price on day one, surpassing Circle’s 168% gain earlier this year and Palm’s 150% jump back in 2000. At its intraday peak of $124.63, Figma’s market cap briefly touched nearly $70 billion, a sharp rise from its $19.3 billion IPO valuation. “Bellwether Event” for the Tech Sector Analysts are calling Figma’s listing a pivotal moment for the software-as-a-service (SaaS) market. PitchBook’s Derek Hernandez described the company as a “generational SaaS player” with a near-monopolistic grip on the product design space, having systematically displaced rivals like Adobe XD and Sketch. The record-breaking IPO is also expected to reignite the pipeline for private tech firms eyeing public listings, with names like Canva, Databricks and Genesys C...