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.
Malaysia and South Korea are set to enhance their Memorandum of Understanding (MOU) on bilateral cooperation in Information and Communication Technology (ICT) , originally signed in 2019, with the aim of finalizing improvements by November this year. This initiative was discussed during a meeting between Malaysia's Communications Minister Fahmi Fadzil and South Korea's Minister of Science and ICT, Yoo Sang-im , at the GSMA M360 APAC 2024 conference held in Seoul on Tuesday. Integration of AI Technology Fahmi highlighted that the proposed enhancements to the MOU will focus on the integration of artificial intelligence (AI) technology, which is increasingly being adopted across various sectors in line with digital advancements. He noted, “In many of my discussions with telecommunications companies here, the focus is not only on 5G infrastructure but also on AI-powered 5G and leveraging high-speed internet for AI applications.” The emphasis on AI reflects a strategic move to ...