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.
Despite years of intervention, China’s property crisis is still spiraling — and even state-linked giants like China Vanke are now buckling under the pressure. The Latest Blow: Vanke’s Record Loss China’s fifth-largest developer, Vanke , posted a 49.5 billion yuan ($6.8B) annual loss in 2024 — its first since listing in 1991. The loss was deeper than expected and reignited fears about the sector’s collapse, showing that even “safer” names are vulnerable. What happened? Vanke’s home sales dropped to a 10-year low . It received emergency loans from its top shareholder (Shenzhen Metro Group). Its chairman and CEO resigned in early 2025. How Did It Get This Bad? The Real Estate Boom (1998–2020) Urban population exploded, homes became the top investment asset. Prices surged 6x in 15 years. Developers pre-sold homes and borrowed heavily, often opaquely. The Crackdown (2020 Onward) China introduced the “three red lines” policy to reduce debt...