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.
British estate agents have observed a notable increase in buyer demand following the Bank of England's (BOE) decision on August 1 to begin cutting interest rates from a 16-year high, according to property website Rightmove. Key Highlights: Buyer Demand Surge: Buyer inquiries in August were 19% higher compared to the same period last year, marking a significant jump from the 11% annual increase seen in July, as reported by Rightmove, which lists properties for over 90% of UK estate agents. Impact of Rate Cut: The BOE's rate cut has sparked renewed optimism among potential home buyers, even though mortgage rates have not yet seen a substantial decrease. "The long-hoped-for first cut has finally arrived, and mortgage rates are heading downwards, which is positive for home-mover sentiment," said Tim Bannister, Rightmove's director. Mortgage Rate Trends: The average interest rate on a five-year fixed-rate mortgage has dropped to 4.80%, down from 5.82% a year ago whe...