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.
Macquarie Bank Ltd.’s UK unit has been fined £13 million ($16.3 million) by the Financial Conduct Authority (FCA) after a metals trader in its London office booked fictitious trades to hide losses for nearly two years. Key Details Trading Misconduct : The unauthorized trades occurred between June 2020 and February 2022 , resulting in a loss of $57.8 million for Macquarie when the positions were unwound. FCA Actions : Macquarie resolved the matter early, qualifying for a 30% discount on the fine. The trader involved has been banned from the financial services industry . Bank’s Statement : The misconduct was isolated to one individual . No clients, markets, or third parties were directly affected or benefited financially. Regulatory Importance The FCA’s penalty underscores its commitment to maintaining market integrity and ensuring firms implement robust controls to prevent trading misconduct. ...