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.
Philippine Airlines Inc. is scaling back its flights to China, joining other carriers in reducing operations amid sluggish travel demand and deteriorating diplomatic relations between Beijing and Manila. Stanley Ng , the chief executive officer of the Philippines’ national airline, confirmed the reductions to Bloomberg News . The decision comes after similar cutbacks from Cebu Pacific Air and Philippines AirAsia in recent months, along with reduced services from China Southern Airlines Co. to the Philippines. Specific Reductions and Travel Trends The Manila-based airline plans to decrease its services to Beijing and Guangzhou in the coming months, according to scheduling data tracked by AeroRoutes . Flights to China have not rebounded to pre-pandemic levels, indicating a persistent decline in demand for travel to the region. This reduction follows Philippine President Ferdinand Marcos Jr. ’s recent ban on online casinos that catered to Chinese gamblers, citing concerns over crime ...