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.
Bitcoin’s rally surged close to $90,000 on Tuesday, with the overall cryptocurrency market surpassing its pandemic-era high as investors anticipate a favorable climate under President-elect Donald Trump . Bitcoin has jumped 32% since the US election on Nov 5, reaching a record of $89,599 . Trump’s promises, including potential crypto-friendly policies and establishing a strategic Bitcoin reserve , have boosted market optimism. This marks a shift from previous regulations, sparking speculative buying across large and small tokens, lifting digital assets' value to $3.1 trillion . Options trading shows bets that Bitcoin could top $100,000 by year-end, with increasing institutional interest in Bitcoin futures. MicroStrategy, a major corporate holder of Bitcoin, added about 27,200 tokens (worth roughly $2 billion) to its holdings recently. The rally’s momentum has stirred talks of possible corrections, but confidence remains strong, with Bitcoin up 110% in 2024 . The shift in Trum...