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.
Moody's has placed Britain's Southern Water on a warning for a "junk" rating downgrade, just days after stripping Thames Water of its investment-grade status. Key Points: Moody's Concerns: The rating agency cited UK regulator Ofwat's draft decision to limit customer bill increases and Southern Water's looming fines as primary concerns. Current Rating: Southern Water currently holds a Baa3 rating, the lowest investment-grade rung. Regulatory Decision: Ofwat's draft determination prevents Southern from raising bills as much as requested, impacting its investment program funding. Fines and Penalties: Southern Water faces substantial fines, including at least £35 million in "Outcome Delivery Incentive" penalties, with potential ongoing annual fines of £19 million to £60 million if improvements are not made. Pollution Reduction: Southern Water is mandated to reduce pollution incidents by 81%, significantly more than other water companies, whi...