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 ride-hailing giant DiDi Global is set to become the second-largest shareholder of AutoAi, a subsidiary of state-backed mapping firm NavInfo. DiDi will exchange cash and its smart driving and cockpit unit for a 16.5% stake in AutoAi, while NavInfo will remain the largest shareholder with 27%. The deal, valued at 450 million yuan (approximately US$62 million), allows DiDi to significantly reduce its involvement in the highly competitive electric vehicle (EV) manufacturing sector. Key Takeaways: Strategic Stake in AutoAi: DiDi Global will acquire a 16.5% stake in AutoAi, a subsidiary of NavInfo focused on intelligent cockpit technology, by contributing its smart driving unit and additional cash. Shift Away from EV Manufacturing: The move aligns with DiDi's strategy to pull back from the fiercely competitive EV market, following the sale of its EV development business to Xpeng in 2023. Valuation and Shareholding Structure: The deal values DiDi's subsidiary at 450 million...