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.
The Malaysian Real Estate Investment Trusts (M-REITs) have achieved a 7% year-to-date increase on the Bursa Malaysia REIT Index , according to the Malaysian REIT Managers Association (MRMA) . This growth has been attributed to peaking global benchmark interest rates and strong earnings growth fueled by sound fundamentals. The announcement was made at the MRMA's fourth REIT Forum , which was attended by Deputy Investment, Trade and Industry Minister Liew Chin Tong . Leong Kit May , Chair of MRMA and CEO of Axis REIT Managers Bhd , noted that M-REITs' commercial sub-sectors were bolstered by government policies, including the 30-day visa exemption for visitors from China and India . In the first half of 2024, tourism arrivals grew by 30% , and tourism receipts increased by 50% compared to the same period last year. Additionally, the industrial property sub-sector has benefited from stable occupancy rates and rising foreign direct investments (FDI) . Johor Bahru has em...