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.
Chinese drugmaker Jiangsu Hengrui Pharma (01276.HK) has signed a major deal with GlaxoSmithKline (GSK.US) to co-develop up to 12 drug programs, in what analysts call one of the largest agreements in Chinese pharma history. Key Details: GSK receives an exclusive global licence for Hengrui’s enzyme inhibitors in clinical trials for lung disease, excluding China, Hong Kong, Macau and Taiwan. The companies will collaborate on up to 11 additional programs. Hengrui will lead development through Phase 1, with GSK taking over for later stages and commercialization. Financials: $500 million upfront payment; potential to earn up to $12 billion plus royalties if all programs reach development and commercial milestones. Strategic Impact: The deal underscores growing global interest in China’s drug innovation pipeline. Citi analysts note this could be the largest licensing deal ever for a Chinese biotech , reinforcing Hengrui’s position as a global pla...