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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 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.
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HSBC Repurchases Over 9.1 Million Shares

  HSBC Holdings  has  bought back and cancelled more than 9.1 million shares  from  Merrill Lynch International , according to a filing with the Hong Kong Stock Exchange. The bank repurchased  4.87 million shares  across  UK trading venues —including the  London Stock Exchange, Aquis Exchange, and Cboe Europe —at an average price of  £9.89  per share. An additional  4.25 million shares  were bought on the  Hong Kong Stock Exchange  at an average price of  HK$101.82 each. HSBC’s stock rose  0.39% in Hong Kong  and  0.82% in London  following the buyback disclosure.
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Chery Automobile Jumps 11.2% in Hong Kong Debut After $1.2 Billion IPO

 Strong Market Debut Chinese automaker  Chery Automobile  surged  11.2%  in its first day of trading on the  Hong Kong Stock Exchange  Thursday, after raising  US$1.2 billion  in the city’s second-largest IPO this year. The stock opened at  HK$34.20 , compared with the offer price of  HK$30.75 , while the  Hang Seng Index  gained 0.1%. IPO Demand and Valuation Chery sold  297.4 million shares  at the top end of its HK$27.75–HK$30.75 range, giving the company a market value of nearly  US$23 billion . Institutional tranche oversubscribed  11.6 times Retail tranche covered an exceptional  308 times The strong demand underscores investor appetite for new energy and smart vehicle plays. Cornerstone Support Almost half of the offering was taken up by cornerstone investors, who subscribed for  US$587 million  worth of stock. Notable buyers included: China’s Enterprise Mixed-Ownership Reform Fund...
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