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 Takeaway: Major Taiwanese banks, led by Mega Financial Holding Co , are suspending their Facebook advertising due to concerns over rampant financial scams on the platform. In a bold move, Taiwanese banks are pulling ads from Meta Platforms Inc’s Facebook , citing the platform's failure to effectively combat a surge in online investment scams , which predominantly target the region's ageing population. Highlights of the Move: Mega Financial’s Decision Mega Financial Holding Co has stopped Facebook advertising after spending NT$16 million (RM2.20 million) annually. Chairman Ray Dawn emphasized the need for Facebook to prioritize scam prevention , especially given cases where fraudsters impersonated banks. Joint Action by Banks Ten local banks , including Shanghai Commercial & Savings Bank Ltd (SCSB) , have joined the campaign to halt ads. SCSB confirmed its participation but did not disclose its Facebook ad spending. Impact on Meta The collective action by Taiwan’s f...