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.
Mizuho Financial Group Inc.'s asset management division, Asset Management One Co, is preparing to launch an active fund focused on large-cap Japanese stocks by the end of the year, aiming to draw investors back to domestic markets. This initiative comes amid a trend where many investors have been favoring foreign equity index products. Key Takeaways: Fund Target and Strategy : Asset Management One Co plans to grow the investment trust to ¥500 billion (approximately $3.4 billion) over the next five to ten years. The fund will focus on about 50 large-cap Japanese stocks, aiming to capitalize on an anticipated return of interest in the domestic market. Shift from Savings to Investments : The Japanese government is actively encouraging citizens to move their financial assets from savings to investments to support economic growth. This effort is reflected in the growing popularity of new tax-free investment accounts, such as Nisa, which has driven the net asset value of publicly offered...