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.
Global stocks surged to a new peak on Tuesday after China unveiled significant stimulus measures aimed at revitalizing its economy and stabilizing its stock markets. The move sent Asian and European shares higher, triggering a strong rally in commodity prices as investors reacted positively to the announcements. The People's Bank of China (PBOC) governor, Pan Gongsheng, revealed plans to lower borrowing costs , inject more funds into the economy, and ease mortgage repayment burdens for households. Additionally, China plans to introduce new structural monetary policy tools to help stabilize its capital markets , a first for the country. These actions sent Chinese stocks soaring, with the CSI300 and Shanghai Composite indexes both rising over 4%, while Hong Kong’s Hang Seng Index climbed more than 4% to reach a four-month high. "Investor positioning in China stocks has been underweight , and the new stimulus measures provide a positive backdrop for the coming months,...