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.
Kioxia Holdings Corp , the Japanese memory chipmaker backed by Bain Capital , Toshiba Corp , and Hoya Corp , has cancelled its plans for an October IPO on the Tokyo Stock Exchange , according to a report from Reuters . The IPO, anticipated to raise around US$500 million (RM2.07 billion) , was expected to be one of Japan’s largest this year. The decision to shelve the IPO comes as Kioxia faces increasing competitive pressure from rivals like Samsung Electronics and SK Hynix , particularly after falling behind technologically. The company had been planning the IPO to secure funds to bolster its operations and benefit from rising chip prices . This is not the first time Kioxia has halted IPO plans, as the company similarly canceled a listing in October 2020 . In addition to its IPO efforts, Kioxia has been involved in on-again, off-again merger talks with Western Digital Corp , further complicating its strategic outlook.