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.
The UK government has granted banks more time to investigate payments they suspect might be fraudulent, offering a reprieve to lenders ahead of new rules requiring them to reimburse scam victims . Previously, banks had to process such payments by the next business day, but the new law will give them an extra 72 hours if there are "reasonable grounds" for suspicion. “This will allow payment providers to reach out to customers and provide the advice needed to prevent criminals from stealing their money,” said Ben Donaldson , managing director of economic crime at UK Finance. The change comes in response to a global surge in authorised push payment (APP) fraud , where criminals trick victims into sending money to external accounts. Losses in the UK alone reached £460 million in 2023. Under new rules effective Oct 7, British banks, fintechs, and payment firms will be required to reimburse fraud victims within five days , with the cost shared between the sending and receiving ...