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.
Sector Rating: POSITIVE MBSB IB maintains a POSITIVE call on the Malaysian property sector, citing improved sentiment, better loan approvals, and a favorable monetary environment following the recent OPR cut by Bank Negara Malaysia (BNM) . Top BUY Picks & Target Prices Company Rating Target Price Highlights Mah Sing Group BUY RM1.49 Focus on affordable housing; rate cut to boost first-time homebuyer demand UOA Development BUY RM2.04 5.6% dividend yield; expanding into Johor Matrix Concepts BUY RM1.65 MVV City growth driver; ~6% yield; steady Bandar Sri Sendayan contributions Key Sector Insights 1. OPR Cut Spurs Affordability & Lending The OPR cut is expected to improve loan eligibility , reduce interest costs, and reignite buying interest , particularly for mid-range residential units . Loan approvals rose 5% MoM in May , with a higher approval ratio (46.4% vs. 44.3% in April). Cumulative approved loans (Jan–May 2025): RM110.9 billion, s...