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.
Investors in the US are paying a significant premium for Taiwan Semiconductor Manufacturing Co. (TSMC) shares, highlighting the persistent appeal of stocks tied to the artificial intelligence (AI) boom . At the close of last Friday, TSMC’s American Depositary Receipts (ADRs) traded at a 24.6% premium compared to its Taipei-listed shares. This marks the highest premium since October 17 and exceeds the quarterly average of 19%, according to Bloomberg data. What’s Driving the Premium? Index Inclusion and Accessibility : TSMC’s ADRs are included in prominent indices such as the Philadelphia Semiconductor Index and exchange-traded funds (ETFs) like the VanEck Semiconductor ETF and iShares Semiconductor ETF . Funds tracking these indices are required to hold US-listed securities, creating sustained demand for ADRs. ADRs also provide easier access for global investors compared to locally-listed shares. Market D...