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.
Horizon Robotics , a Chinese provider of software and hardware for autonomous driving systems , is seeking to raise up to HK$5.4 billion (US$696 million) through its Hong Kong IPO , marking one of the city's largest deals of 2024. The company, backed by Intel Corp , will offer 1.36 billion shares priced between HK$3.73 and HK$3.99 each, according to its listing document. The IPO is set to begin taking orders on Wednesday, with trading expected to start on October 24 . Notable cornerstone investors , including units of Alibaba Group Holding Ltd , Baidu Inc , and a fund linked to the city of Ningbo , have committed to buying about US$220 million worth of Horizon Robotics shares. Founded in 2015 , Horizon Robotics is led by Kai Yu , an AI scientist and former Baidu executive, and is positioning itself alongside other Chinese autonomous driving firms preparing to go public, such as Pony.ai and Shanghai Westwell Lab Information Technology Co . However, the market for autonomous dr...