KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
Key Takeaway: Pony AI, backed by Toyota, seeks to raise up to $195 million through its US IPO, aiming for a valuation of $4.48 billion , signaling a cautious return of Chinese companies to the US stock market. Chinese self-driving firm Pony AI is pursuing a long-awaited US Nasdaq listing under the symbol "PONY" , offering 15 million American Depositary Shares priced between $11 and $13 each. This move comes as the company adjusts its valuation down from $8.5 billion in 2022 to reflect market conditions, targeting $4 billion minimum . The IPO follows rival WeRide's recent Nasdaq debut and reflects increasing efforts by Chinese self-driving firms to raise funds for scaling operations . Investors including BAIC have indicated interest in purchasing $74.9 million worth of shares , while others agreed to a $153.4 million private placement . Key Challenges and Opportunities: The self-driving sector faces regulatory and profitability hurdles , with significant R&D in...