KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Figma is set to launch one of 2025’s most anticipated tech IPOs , targeting over $1 billion in funding at a valuation of $18.8 billion . The design software giant is going public using an auction-style IPO , where investors submit limit bids to determine the final price, aiming for a fairer market-driven valuation. Why Figma’s IPO Stands Out Auction-Style IPO: Unlike traditional IPOs, this Dutch auction model reduces underpricing and offers more transparency by letting investor demand set the price. AI Narrative: Figma’s prospectus mentioned AI 150 times , highlighting its focus on AI-driven design and collaboration tools—one of the hottest areas for software innovation. Strong Financials: Q1 2025 revenue up 46% YoY to $228.2M. Net profit surged from $13.5M to $44.9M. 13M monthly active users; 450,000 enterprise clients, including Netflix, Stripe, and Duolingo. Why It Matters for AI Stocks Figma’s IPO could lift sentiment for...