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.
Simple Summary Chinese tech stocks have fallen 20% from their October high Hang Seng Tech Index dropped as much as 3.4% in the latest session Tax hike fears and weak sentiment are weighing on the sector Global AI valuation concerns added to the selloff What’s Happening A key gauge of Chinese technology shares extended its decline on Tuesday, with the Hang Seng Tech Index slipping into bear-market territory , down about 20% from its October peak . Losses were led by heavyweight names: Kuaishou Technology Tencent Holdings Alibaba Group Holding The index reversed earlier gains as selling accelerated through the session. Why Investors Are Selling Several factors are pressuring sentiment: Policy worries: Investors fear Beijing may raise value-added tax (VAT) on internet services firms , after recently targeting telecom companies. Global tech jitters: Renewed doubts over whether AI giants can justify heavy spending and high val...