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.
Key Takeaways SpaceX's stock market excitement isn't reflected in its bond market pricing. Although rated investment-grade (BBB), SpaceX's bonds trade more like high-yield (junk) debt. Bond investors are demanding higher returns , signalling greater concerns over long-term financial risk. The gap highlights the difference between growth investing and credit investing. Watching the bond market can provide valuable clues about risks that equity investors may overlook. Market Insight Since its blockbuster public listing, SpaceX has become one of the world's most valuable companies, attracting enormous enthusiasm from equity investors. Its shares have commanded premium valuations as investors bet on the company's long-term ambitions in space exploration, satellite communications and next-generation technologies. However, beneath the optimism, the bond market is telling a different story . While major credit rating agencies assign investment-grade (BBB) ratings ...