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.
Citadel’s US$64 billion hedge fund business has significantly bolstered its Asia fundamental equities team , surpassing 60 members within just over three years, according to insiders. The company is adding two portfolio managers, Doris Yang and Jerry Jiang , early next year, bringing the total number of pods in the region to nine. Citadel has been aggressively expanding its Asia-based equity investment teams to capitalize on the region's growing capital markets and talent. This marks a reversal from the cutbacks made after the global financial crisis , a period when many competitors retreated from Asia. Key hires in this expansion include Nick Taylor , who returned in 2020 to lead event-driven investing , and Sachin Kewalramani , who joined in 2021 as the head of fundamental equities in Asia . The growth of multi-strategy hedge funds , like Citadel, has been a dominant trend in recent years. These so-called "pod shops" nearly tripled their combined assets globally be...