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.
China’s once-largest property developer, Country Garden , has agreed to a key term demanded by its bank creditors, potentially unlocking progress toward a long-awaited US$14.1 billion debt restructuring deal , according to Bloomberg. What Just Happened? Country Garden will pay US$178 million (≈ RM751 million) to compensate banks in exchange for the return of seized collateral. The proposal was detailed in a document sent to the banks’ coordination committee , a crucial group holding enough debt to block or approve the restructuring. The committee had earlier warned that not agreeing to this term would be a deal-breaker . Why This Matters Time is ticking : Country Garden’s next winding-up hearing is on August 11 , and the High Court expects to see clear progress by then. Key milestone : Getting coordination committee support now clears a major roadblock on the company’s path to restructuring. Background Recap Country Garden defaulted on its offsh...