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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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Maybank Partners with Bank of Hangzhou to Enhance Cross-Border Financing and Digital Innovation

Malayan Banking Bhd (Maybank) has signed a memorandum of understanding with Bank of Hangzhou to strengthen cross-border business and advance digital innovation. The collaboration comes as both countries prepare to celebrate the 50th anniversary of diplomatic relations between Malaysia and China.


The partnership aims to provide services such as cross-border financing, interbank cooperation within China, and the clearing of Southeast Asian currencies, while connecting Chinese enterprises to broader business opportunities in the region. Both banks are also exploring digital banking opportunities, focusing on data governance, analytics, and fintech innovation.

The collaboration will include joint product development, knowledge-sharing, and talent development to enhance customer services in both markets. Maybank’s Group CEO Datuk Khairussaleh Ramli noted that this partnership leverages both banks' strengths in ASEAN to support Chinese businesses expanding into Southeast Asia.

Bank of Hangzhou president Yu Limining emphasized the partnership’s alignment with the Belt and Road Initiative and the strong ties between the two nations. The partnership builds on the recent "Smartup City Connect" initiative between Kuala Lumpur City Hall and the Hangzhou Municipal People's Government.

Maybank's stock closed 0.76% higher at RM10.54 on Thursday, marking a 18.16% year-to-date increase.

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