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.
Magnificent Seven Face Growing Scrutiny After months of powering Wall Street’s gains, the Magnificent Seven tech giants — Amazon, Alphabet, Apple, Meta, Microsoft, Nvidia, and Tesla — are losing steam. Rising doubts about AI’s near-term profitability , stretched valuations, and shifting capital into other sectors have raised concerns about how much further tech can run. Nvidia earnings ahead : Seen as a critical test for the sector’s momentum. Rotation in play : Energy, materials, and real estate all outperformed tech last week. Tech lagging despite Powell boost : Even with Powell’s dovish hints on rate cuts, the tech-heavy Nasdaq dropped 1.6% for the week. Why Investors Are Pulling Back Valuations stretched : Investors like Joshua Boyer are trimming holdings, citing overextended prices relative to earnings. Retail selling picks up : For the first time in two months, retail investors were net sellers , focusing on names like Palantir, Alphabet, and Broadcom (JPMo...