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Malaysian Shares Edge Up Tracking Regional Rally; ES Sunlogy's Shares Jump 8%

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Malaysian shares closed slightly higher Monday, tracking upbeat regional performance. The FTSE Bursa Malaysia KLCI rose 0.1% or 1.38 points to close at 1,666.94.

The U.S. and Chinese officials held high‑level trade talks in New York Sunday ahead of a planned summit between Donald Trump and Xi Jinping, focusing on tariff cuts, rare‑earth supplies and a bilateral AI safety dialogue.

In corporate news, Evocom's (KLSE:EVOCOM) initial public offering drew an overall oversubscription rate of 3.60x. The logistics and workforce services company received 6,326 applications for 104.7 million shares from the Malaysian public. The IPO comprises 113.9 million new shares and an offer for sale of 22 million existing shares at 0.18 ringgit per share.

Elsewhere, shares of ES Sunlogy (KLSE:SUNLOGY) jumped 8% on close after its unit Savelite Engineering accepted a letter of appointment for a 15.6 million ringgit subcontract.

Kelington Group (KLSE:KGB) slid about 2% on close after it signed a memorandum of understanding with India's Tata Electronics to support the deployment of critical infrastructure and systems for the latter's semiconductor fab in Dholera, Gujarat, India.

What else is happening in Asia?

Asia

Market Chatter: SoftBank Launches $11 Billion Bond Sale to Fund OpenAI Investment

SoftBank Group (TYO:9984) has launched $10 billion and 1 billion euros in senior unsecured notes to fund its investment in OpenAI, Reuters reported Monday, citing a term sheet.The dollar-denominated tranches mature in 3.5, 5.5, and 7.5 years, while the euro portions mature in four and six years, the newswire said.The proceeds will finance SoftBank's $10 billion payment for the third tranche of its OpenAI follow-on investment, expected to close on Oct. 1, while the remaining funds will be used for general corporate purposes, the report said.SoftBank Group did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:9984
Asia

Shenzhen Transsion's Hong Kong Listing Application Under Review; Shares Up 4%

Shenzhen Transsion (SHA:688036) said the Hong Kong Exchange is reviewing its application for listing on the Main Board.The listing is pending final approval from the Hong Kong bourse, the city's Securities and Futures Commission, and other regulators, according to a weekend filing with the Shanghai bourse.Shares of the mobile phone maker rose 4% in recent trade.

SHA:688036
Asia

China Approves Shanghai Rural Commercial Bank's Absorption of Peer

Shanghai Rural Commercial Bank (SHA:601825) received approval from China's National Financial Regulatory Administration to absorb Shanghai Chongming Rural Commercial Bank, according to a Saturday filing with the Shanghai bourse.The listed commercial bank will absorb Chongming RCB's assets, liabilities, institutions, businesses, employees, and other rights and obligations and will dissolve Chongming, according to the filing.

SHA:601825