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.
Nintendo Co shares rose by as much as 3.9% on Monday after a senior executive from Saudi Arabia’s Public Investment Fund (PIF) suggested the fund is open to increasing its stake in Japanese game companies , including Nintendo. The stock saw its largest gain in over a week , outpacing the broader market, after Kyodo News reported that the Arab Gulf nation's PIF is considering deploying more capital to Nintendo and other gaming sector peers. Prince Faisal bin Bandar, vice-chairman of PIF subsidiary Savvy Games Group , indicated that the fund would favour such moves with the backing of the companies themselves. Saudi Arabia, aiming to diversify away from its oil-dependent economy, is focusing on becoming a global player in the gaming industry . The kingdom has committed US$38 billion (RM162.32 billion) to its ambitions, betting on its potential to become a hub for video gaming. The PIF, with US$760 billion in assets under management , already holds an 8.6% stake in Nintendo and...