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.
Donald Trump has officially won Arizona, the final battleground state to be decided in the US presidential election, completing a clean sweep of all seven swing states. The Associated Press (AP) called the state for Trump on Saturday night (Nov 9), as his current lead of about 185,000 votes in Arizona rendered it out of reach for Vice President Kamala Harris.
Arizona, which was flipped by Joe Biden in 2020, had long been considered a key battleground. Trump’s victory here, along with its 11 electoral votes, brings his total to 312, while Harris stands at 226. Other battleground states won by Trump include Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.
Trump’s Strong Position for Economic Priorities
Emerging from Tuesday’s (Nov 5) election with a stronger-than-expected outcome, Trump is now poised to quickly move forward on core economic priorities such as raising tariffs, cutting taxes, and cracking down on undocumented migration. This electoral victory was powered by a rightward shift across demographic groups and geographies, which helped him secure key victories in traditionally contested areas.
Republican Dominance on Capitol Hill
Trump's victory in the swing states solidifies Republican control of the Senate, and the party is on the brink of holding a narrow majority in the House of Representatives. This positions Trump with strong support in Congress as he prepares to advance his policy agenda.
The president-elect is scheduled to meet with Joe Biden at the White House on Wednesday for their first post-election meeting. This marks the beginning of the transition of power, which will be completed in January when Trump officially assumes office.
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