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.
China's services sector expanded at its fastest rate since July, as the Caixin China services purchasing managers' index (PMI) rose to 52 in October from 50.3 in September. This private survey, which focuses on smaller private firms, outperformed expectations with a median forecast of 50.5. Key Highlights: Improved Consumer Demand : The rise in PMI suggests a potential rebound in consumer demand following Beijing's recent stimulus measures aimed at boosting economic growth. Sector Confidence : Businesses show confidence in short-term macroeconomic conditions, according to Wang Zhe, senior economist at Caixin Insight Group. Broader Economic Stability : Signs of recovery are visible across various sectors, including manufacturing and housing, with particular strength in domestic demand. Market Response : Following the release, the CSI 300 index rebounded, rising by as much as 1.2%. Since late September, Chinese policymakers have introduced significant economic support measure...