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.
Zambia is exploring a debt-for-nature swap as part of its strategy to reduce overseas debt, according to Finance Minister Situmbeko Musokotwane . This option, which allows a portion of a country’s debt to be refinanced in exchange for commitments to environmentally sustainable projects , is under consideration following Zambia’s successful restructuring of $3 billion in eurobonds to exit default. Musokotwane stated that the country is "thinking about it very closely" and is working on a framework to guide how funds can be used to protect the environment. The minister highlighted the benefits of further debt relief through this approach, though no formal plan has been finalized yet. The consideration comes as Zambia faces challenges from a record drought , which has led to the International Monetary Fund (IMF) reducing the country’s economic growth outlook to 1.2% for 2024, down from an earlier projection of 2.3% . Musokotwane also confirmed that Zambia is in talks with...