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.
Public Offering Triggers Sell-Off SoFi Technologies (SOFI) shares slid over 8% in after-hours trading Tuesday after the company announced a $1.5 billion public offering of common stock . The deal also includes a 30-day option for underwriters to buy an additional 15% of shares, signaling potential dilution for existing shareholders. Strong Quarter Overshadowed The sell-off came just hours after SoFi reported better-than-expected Q2 earnings and raised its full-year outlook. Key highlights include: Revenue up 44% YoY Fee-based revenue surged 72% Members grew 34% to 11.7 million 2025 revenue guidance raised to $3.38 billion 2025 EPS forecast increased to $0.31 SoFi ended the quarter with $2.12 billion in cash , underscoring its solid balance sheet. Why Investors Reacted Bearishly Despite the strong fundamentals, the announcement of a large share sale often pressures stock prices due to concerns about dilution and timing. Investors may also be questionin...