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.
British government debt has surged to 100% of GDP for the first time in modern history, creating additional challenges for Finance Minister Rachel Reeves as she prepares her tax and spending plans . According to the Office for National Statistics , this marks the first time public sector net debt (excluding public sector-owned banks) has hit this level since 1993 . Government borrowing reached £13.734 billion in August, £3.3 billion more than the same month last year, exceeding expectations. Weak economic growth , alongside increased spending on social benefits and inflation-driven expenditures, contributed to the higher-than-expected deficit. Reeves, who has warned that tax increases will be necessary in her October 30 budget , has limited options after ruling out hikes in income , corporation , and value-added taxes . This leaves little room to address public service demands or increase investment, according to PwC economist Gora Suri . Over the first five months of the 2024/...