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.
Key Takeaways • Malaysia’s 2Q earnings season came in better than feared, prompting analysts to lift KLCI targets. • RHB Research raised its year-end KLCI forecast to 1,620 points, citing fiscal support, ringgit strength, and easing tariff risks. • CIMB Securities flagged resilient dividends and sectoral growth in REITs, plantations, transport, and gaming despite aggregate earnings pressure. • MBSB Research maintained a 1,650-point KLCI target, pointing to inexpensive valuations and potential foreign inflows as Fed rate cuts resume. Equities The FBM KLCI has rebounded nearly 13% from April lows during the peak of global tariff uncertainty, trimming its year-to-date decline to about 3%. RHB Research raised its year-end KLCI target to 1,620, underpinned by fiscal and monetary measures, robust domestic liquidity, and stronger ringgit inflows. Bloomberg data shows the consensus bottom-up target has also improved, now at 1,767 points compared with 1,751 previously. CIMB Securities described...