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.
Singapore Prime Minister Lawrence Wong has cautioned about growing global economic challenges driven by the escalating competition between the US and China. Speaking at Temasek Holdings' 50th anniversary dinner, Wong highlighted the emerging risks as more economic activities become influenced by security concerns.
“We are in a new era, marked by the growing contest for dominance and leadership,” Wong remarked, referring to the technological and geopolitical competition between the two superpowers. He noted that restrictions on critical technologies like artificial intelligence and semiconductors have already been implemented, signaling how security concerns are expanding into broader sectors.
Wong further warned that the rise of targeted protectionism and aggressive subsidies for key industries could result in a world driven by zero-sum thinking, potentially making it more dangerous and unstable.
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