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 exchange-traded fund (ETF) market hit an unprecedented milestone in 2024, with inflows surpassing $1 trillion for the first time, according to data from ETFGI and the Investment Company Institute. This achievement eclipses the prior record of $920 billion set in 2021 and highlights the growing influence of ETFs in global finance, with the industry now managing over $10 trillion in assets . Key Drivers of ETF Growth Popular Funds Lead the Charge : The Vanguard S&P 500 ETF (VOO.US) attracted nearly $100 billion in inflows, demonstrating investor confidence in established market indices. The newly launched iShares Bitcoin Trust (IBIT.US) pulled in over $34 billion since its debut in January, underscoring rising interest in cryptocurrency-related investments. Shift Away From Mutual Funds : Traditional mutual funds saw outflows exceeding $200 million in 2024, as investors shifted to ETFs for their tax efficiency, trans...