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.
Market Skepticism Grows Over Trump Administration’s Cost-Cutting Claims Just weeks into President Donald Trump’s second term , Elon Musk has taken center stage in Washington, aggressively pushing cost-cutting initiatives through the newly created Department of Government Efficiency (DOGE) . Yet, despite bold claims of budget savings, bond markets remain unconvinced . Bond Market Challenges Musk’s Spending Cut Narrative Musk boasted of saving $55 billion through swift agency shutdowns, including the US Agency for International Development (USAID) and the Consumer Financial Protection Bureau . However, market analysts estimate the actual savings at only a third of that amount —far from the scale needed to tame a $1.8 trillion fiscal deficit . The 10-year US Treasury yield has fluctuated between 4.3% and 4.7% , failing to decline despite the administration’s cost-cutting rhetor...