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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 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.
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Malaysia's Financial Institutions Remain Supportive of Economic Growth Amid Resilient Businesses and Households

 Bank Negara Malaysia (BNM) stated that Malaysia’s financial institutions, including insurers, continue to support economic growth, with businesses and households demonstrating resilience as the ringgit strengthens. This is in line with the projected improvement in business resilience for the second half of 2024, according to the Financial Stability Review First Half 2024 report.


BNM noted that input costs are expected to ease due to lower commodity prices and the appreciating ringgit, further bolstering household resilience supported by favorable economic and labor market conditions.

The banking sector reported an aggregate total capital ratio of 18.4%, with capital buffers amounting to RM136.1 billion, well above the regulatory minimum. Meanwhile, the insurance and takaful sectors achieved an aggregate capital adequacy ratio of 227%, with excess capital buffers of RM37.4 billion.

BNM emphasized the importance of operational resilience in the financial system, highlighting ongoing efforts to enhance risk management and fraud control. Deputy Governor Jessica Chew noted the need for heightened expectations around managing risks from third-party service providers.

Additionally, the central bank observed significant growth in cross-border QR payment volumes, with transactions in the first half of 2024 doubling compared to the full year of 2023.

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