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.
Japanese banks are off to a strong start this fiscal year, with Mizuho Financial Group Inc raising its annual profit forecast to a record ¥1.02 trillion (US$6.9B) after posting better-than-expected first-quarter results. Key Highlights: Mizuho: Net income rose 0.4% YoY to ¥290.5B in Q1; full-year profit forecast lifted from ¥940B to ¥1.02T. Sumitomo Mitsui: Q1 profit hit ¥376.9B, reaching 29% of its full-year goal of ¥1.3T. Both banks beat analyst estimates and saw gains in net interest income as lending margins improved. Drivers: Higher Interest Rates: Japanese lenders are benefiting from improved margins after the Bank of Japan ended its ultra-easy monetary policy last year. Trade Deal Optimism: A recent US-Japan tariff agreement and a resurgent stock market added momentum to bank shares. Mizuho stock is up 16% YTD; Sumitomo Mitsui gained 2.4%. Lower Risks: Mizuho expects smaller bad-loan costs and gains fro...