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.
BHP Group, the world’s largest listed miner, is doubling down on its copper expansion strategy after reporting a better-than-expected 2% increase in annual underlying profit. The company's focus on copper aligns with its strategic emphasis on supporting the global energy transition, as demand for the metal is expected to surge. This shift comes after BHP’s unsuccessful $49 billion bid for Anglo American, which would have significantly expanded its copper portfolio. Key Takeaways: Copper Expansion as a Strategic Priority : BHP is committed to growing its copper business through existing projects in key regions like Chile, South Australia, and Argentina. The company’s copper output currently accounts for about 30% of its profits, a figure that is expected to rise significantly as BHP aims to produce over 500,000 metric tonnes annually by the early 2030s, up from 322,000 tonnes last year. The decision to focus on copper comes amid a challenging outlook for iron ore, traditionally BHP...