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.
Singapore’s financial powerhouses—DBS, UOB, and OCBC—are accelerating their expansion into RMB cross-border settlements , positioning themselves as regional leaders in Asia’s rising RMB payment ecosystem, driven by China’s Belt and Road Initiative (BRI) and the global momentum behind RMB internationalization. RMB Payment Volumes Hit Record Highs In 2024 , China's Cross-Border Interbank Payment System (CIPS) handled over RMB 175 trillion , marking a 42.6% YoY increase , underscoring the growing relevance of RMB as a global settlement currency . This surge aligns with a broader trend of de-dollarization , further incentivizing regional financial institutions to deepen RMB infrastructure capabilities and tap into the expanding RMB payment corridor . Singapore’s Big Three: Strategic Integrations with CIPS DBS Leads the Charge in RMB Clearing First Singaporean bank to become a direct CIPS participant . Achieved...