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.
Moody’s has downgraded Israel's credit rating for the second time this year, citing escalating costs from nearly 12 months of conflict with Hamas in Gaza and worsening hostilities with Hezbollah . The country's rating was cut by two notches to Baa1 , leaving it three levels above non-investment grade, with a negative outlook . Moody’s highlighted the significant geopolitical risks facing Israel, noting that the intensifying conflict with Hezbollah has raised concerns over long-term economic stability. Israel's projected war costs through the end of 2025 are estimated to reach $66 billion , more than 12% of the nation’s GDP . Despite the Israeli government’s criticism of the downgrade as “excessive and unjustified,” Moody’s expressed doubts about a rapid economic recovery , forecasting that the conflict would weaken Israel’s economy more severely than initially expected. The country’s fiscal deficit has surged, and growth forecasts have been revised downward, with 202...