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.
Key Takeaways Cathay United Bank, a subsidiary of Cathay Financial Holdings , plans to expand aggressively in Asia as global supply chains diversify away from China. Vietnam is the main focus, with headcount to rise by 50% from 200 staff , alongside investments in technical capabilities. Expansion also includes Hong Kong (staff to 200 by 2026) , Singapore (+20 staff for private banking) , and new branches in Japan and India . The strategy is driven by the “China plus one” trend , tariff disruptions under the Trump administration, and rising intra-Asia trade flows. The bank seeks to capture business from Taiwanese and Chinese tech manufacturers and Japanese corporates investing in Southeast Asia. Strategic Expansion Cathay United Bank sees Vietnam as its “second home,” positioning itself to ride on the accelerated shift of manufacturing bases out of China. Despite US tariffs — including a 20% levy on Vie...