KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
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...