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.
Bank of America Corp strategist Michael Hartnett is advising investors to buy into any dips in Chinese equities , anticipating fresh fiscal stimulus from Beijing. The government is expected to unveil as much as 2 trillion yuan (US$283 billion) in new measures at a briefing scheduled for Saturday, according to analysts and investors polled by Bloomberg . Hartnett believes that allocations to China will increase as forecasts for economic growth improve and bond yields rise. He pointed out that policymakers may use capital markets aggressively to stimulate domestic demand and boost investor confidence . Despite a volatile week for Chinese stocks, with the CSI 300 Index snapping a 10-day rally and dropping 2.8% on Friday, Hartnett remains optimistic. The index has still gained over 20% since September 23 , following the central bank's introduction of monetary stimulus measures. The strategist emphasized his team's stance: "We buy any China dips." Investors pou...