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 Korea Exchange (KRX) announced plans to launch a new stock index, the Korea Value-up Index , on September 30, in an effort to boost South Korea’s equity market and counter its historically low stock valuations . The index will consist of 100 profitable local companies that exhibit strong shareholder return policies and have a proven track record of complying with government efforts to reduce the so-called " Korea discount " on stock prices. The Korea discount refers to the lower valuations typically assigned to South Korean companies compared to their global peers, primarily due to low dividend payouts and the dominance of opaque conglomerates known as chaebols . The new index is designed to attract more investment inflows by serving as a benchmark for the creation of exchange-traded funds (ETFs) , which can be traded like stocks in real-time by retail investors. The Korea Exchange expects the new index to facilitate the development of various index-based products a...