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.
GSK plc has announced the acquisition of an experimental lupus drug from Chinese biotech company Chimagen Biosciences in a deal worth up to US$850 million (RM3.7 billion) . This agreement enhances GSK's immunology pipeline , adding to its existing lupus treatment portfolio. As part of the deal, GSK will pay US$300 million upfront , with Chimagen eligible for US$550 million in success-based milestone payments. While the drug is currently in early clinical trials for leukemia and lymphoma , GSK plans to begin clinical trials for lupus in 2025 . The British drugmaker already markets Benlysta , a blockbuster treatment for systemic lupus erythematosus and lupus nephritis , and is optimistic about the potential of the acquired drug to further address these autoimmune diseases . Pharmaceutical companies are increasingly turning to China for innovative medicines. GSK recently secured a multi-billion-dollar deal for its shingles vaccine in China and signed a licensing agreement wi...