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.
Goldman Sachs has upgraded its outlook for Chinese stocks, expecting a potential 11% upside if the US and China reach a trade agreement. The bank raised its 12-month target for the MSCI China Index to 90 from 85 , according to strategists led by Kinger Lau. The move reflects optimism that a deal could remove one of the biggest risks weighing on the market. Why Goldman Is Bullish A US-China trade deal could be a “market-clearing event” , similar to rallies seen in other countries that struck trade pacts with the US in recent months. Other tailwinds include a stronger yuan , easing regulatory pressures on private companies, and supportive liquidity conditions. Sector Focus Goldman advised investors to look at individual stocks and shifted its preference to: Overweight: Insurance and materials. Underweight: Banks and real estate. Market Context Chinese stocks have been on a winning streak, rising for three straight weeks as expectations...