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 Highlights: Historic Milestone: Elon Musk's net worth reached an unprecedented $447 billion , making him the first individual in history to cross the $400 billion mark , according to the Bloomberg Billionaires Index. Catalysts for Wealth Growth: SpaceX Insider Share Sale: A recent transaction boosted Musk’s net worth by $50 billion , valuing SpaceX at approximately $350 billion . Tesla's Rally: Tesla Inc shares surged to an all-time high of $424.77 , marking a 71% increase in 2024 and contributing significantly to Musk's fortune. Largest Single-Day Wealth Jump: Musk’s net worth increased by a record-breaking $62.8 billion in one day , driven by Tesla’s rally and SpaceX’s valuation boost. Broader Implications: Musk’s wealth growth has propelled the combined fortunes of the world’s richest 500 individuals past $10 trillion , equivalent to the GDP of Germany, Japan, and Australia combined. Key Factors Driving Tesl...