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.
Escalation Beyond Standard Furloughs The White House Office of Management and Budget (OMB) has instructed federal agencies to prepare plans for permanent job cuts in the event of a government shutdown, marking a sharp break from recent precedent. Traditionally, nonessential employees were furloughed and later reinstated with back pay once funding resumed. Programmes at Risk In a memo sent late Wednesday, OMB told agencies to identify programmes where discretionary funding lapses on Oct 1 and no alternative sources exist. According to the directive, such programmes would be “no longer statutorily required,” and agencies must be ready to eliminate associated jobs. The scope of potential cuts remains unclear, as OMB has not released the usual contingency plans. Economic and Political Fallout A large-scale dismissal of federal workers could weigh on economic growth, given that around 40% of government employees are typically furloughed during shutdowns. Critics argue the new approach could...