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.
During the recent Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing, China pledged to encourage its "powerful" companies to invest in Nigeria, signaling a stronger strategic partnership between the two countries. The commitment was made following a meeting between Chinese President Xi Jinping and Nigerian President Bola Tinubu, emphasizing mutual interests in economic development, security, and regional stability. Key Highlights: Economic and Trade Cooperation : China welcomed Nigeria to its e-commerce and logistics sectors and expressed its intent to assist in diversifying and strengthening the West African nation’s economy. The two countries agreed to enhance "flexible and diverse" regional monetary and financial cooperation, including local currency swaps, to promote bilateral trade. President Xi Jinping underscored the importance of this partnership in bolstering China-Africa relations and fostering progress among Global South countries. Securit...