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.
Goldman Sachs upgraded its outlook for Chinese stocks to overweight , predicting that shares could rise another 15%-20% if Beijing follows through on its stimulus measures , according to a note from strategists, including Tim Moe, dated Oct. 5. The investment bank joins HSBC Holdings Plc and BlackRock Inc. in turning more bullish on China's equities. Despite the recent rally, valuations remain below historical averages , and with earnings expected to improve and global investors under-positioned , Goldman sees further upside potential. The CSI 300 Index has already climbed 27% from its September lows , and analysts will be closely watching to see if this momentum continues when onshore markets reopen on Tuesday after the holiday. Goldman raised its targets for the MSCI China Index and CSI 300 Index to 84 and 4,600 respectively, projecting a total return of 15%-18% . However, they warned of potential risks, such as weaker-than-expected stimulus , profit-taking , and geo...