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.
Amgen’s stock fell sharply in premarket trading, dropping 7.7% to $271.48, despite positive results from its Phase 2 study of experimental weight-loss drug MariTide. Promising Data from MariTide Study Amgen’s statement highlighted encouraging results from the 52-week study : Non-diabetic participants: Achieved an average 20% weight loss , with no plateau observed, suggesting potential for continued weight reduction beyond one year. Participants with Type 2 diabetes: Reported an average 17% weight loss over the same period. The study involved nearly 600 adults living with obesity or overweight , showcasing MariTide’s potential as a competitive player in the weight-loss drug market. Stock Reaction and Market Context Despite the promising data, Amgen shares dropped 7.7% in premarket trading, marking the stock’s largest one-day percentage decline in over four years, according to Dow Jones Market Data. In contrast, rival pharm...