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.
A war of words has erupted between Wall Street’s biggest players as cracks appear in the credit markets. After JPMorgan CEO Jamie Dimon likened recent credit losses to spotting “one cockroach” — implying more problems ahead — leaders from the private credit world fired back, igniting one of the most public rifts yet between traditional banks and alternative lenders. The Spark: JPMorgan’s Loss and Dimon’s Warning The feud began after JPMorgan Chase & Co disclosed a US$170 million loss linked to auto lender Tricolor Holdings , part of a broader rise in credit costs during the third quarter. “It’s not our finest moment,” Dimon admitted, warning that when losses appear in one corner of the market, “there’s never just one cockroach.” Dimon cautioned that some nonbank lenders have weaker underwriting standards , and that when a downturn hits, credit losses could be “higher than normal.” Private Credit Fires Back That commen...