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.
Jimmy Levin, Chief Investment Officer of Sculptor Capital Management, describes the rise of "creditor-on-creditor violence" in debt restructuring as a natural part of the capitalist system. He views the provision of fresh capital to companies restructuring their debt as one of the best opportunities in the corporate credit market over the past few years. Key Takeaways: Restructuring as an Opportunity : Levin emphasizes that liability management exercises, where companies secure new financing that prioritizes new creditors over existing ones, have become more prevalent in the last decade. He sees this trend as a manifestation of capitalism, with credit investors needing to anticipate and navigate these situations effectively to avoid losses and capitalize on opportunities. Growing Trend of Creditor Conflicts : The increase in debt restructuring maneuvers often pits different groups of creditors against each other, creating situations Levin terms "creditor-on-creditor viol...