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.
Just as signs of stability were emerging in the UK property sector earlier this year, momentum has faltered once again . Latest data from Nationwide Building Society shows that UK house prices dropped to their lowest level in over two years in June , surprising economists who had expected a modest rebound. The renewed weakness reflects a confluence of policy missteps and persistent affordability challenges , raising fresh doubts about the near-term trajectory of the housing market. What Triggered the Latest Downturn? June home prices fell unexpectedly , derailing optimism from early 2025. Economists had forecast a slight increase, citing easing inflation and improving sentiment. The surprise decline followed the UK government’s April hike in transaction taxes (stamp duty) , which increased upfront costs for buyers across all segments. Market Dynamics: Pressure Across the Board The weakness is not limited to first-time buyers or the mass market. According to real ...