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.
Wells Fargo & Co. announced its departure from the Net-Zero Banking Alliance (NZBA) , signaling growing divergence among Wall Street banks on climate commitments. The move follows Goldman Sachs' exit earlier this month , as financial institutions face increasing scrutiny from Republican lawmakers . Key Details No Explanation Given: Wells Fargo, headquartered in San Francisco, did not elaborate on its decision to leave the NZBA , the world’s largest climate alliance for banks. Political Pressure: Financial firms, including Wells Fargo, are under scrutiny from GOP-led investigations and lawsuits , alleging collusion and anti-competitive behavior in climate-related initiatives. "Climate Cartel" Allegations: The House Judiciary Committee , chaired by Ohio Republican Jim Jordan , accused environmental alliances like NZBA of forming a "climate cartel." Industry Trends: Other institutions, such as BlackRock, Vanguard, and State Street , have ...