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 is emerging as a frontrunner in attracting investments in the ASEAN semiconductor sector, thanks to its established supply chain, skilled workforce, abundant resources, and cost-effective business environment, according to Maybank Investment Bank Bhd (Maybank IB). The country's strategic positioning has led to a surge in investment commitments into its electrical and electronics (E&E) sector, with approved investments nearly tripling in 2023 compared to the previous year and soaring almost 20-fold year-over-year to $7.3 billion in the first quarter of 2024. Key Takeaways: Significant Growth in Semiconductor Investments : Malaysia's role in the global semiconductor landscape is growing, with substantial increases in investment commitments in the sector. The country benefits from its robust downstream capabilities in assembly, testing, and packaging (ATP), which make up 7% of the global ATP capacity, the largest share in ASEAN. Malaysia's and Vietnam's rising...