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 Malaysian Anti-Corruption Commission (MACC) is currently investigating 20 development projects initiated by Selangor Menteri Besar Incorporated (MBI) over suspicions of corrupt activities, according to Chief Commissioner Tan Sri Azam Baki . This investigation follows a corruption case related to a sand mining concession that implicates a prominent Selangor politician . While Azam did not specify which projects are under scrutiny, he clarified that the case is unrelated to the current Selangor administration. The MACC is also investigating five companies believed to be linked to two individuals recently arrested in connection with the case, including a former MBI chief operating officer and a businessman. Azam stated that over 18 individuals have already provided statements, and more arrests or summonses may follow. He emphasized that the investigation is not politically motivated and is based on public interest complaints. The investigation is ongoing, and further developm...