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: Record Cash Decline : Japanese households reduced their collective cash holdings by 3.4% year-on-year, marking the largest drop since the Bank of Japan (BOJ) began tracking this data in 1998. By the end of December, their total cash holdings had fallen to ¥105.3 trillion (approximately US$707 billion or RM3.11 trillion). Inflation and Spending : The drop in cash is largely attributed to rising living costs as inflation impacts household finances. This comes after a period of cash hoarding during the Covid-19 pandemic, which saw a surge in cash savings. Cashless Trend : The shift towards cashless payments is contributing to the reduced need for physical cash. The adoption of digital payments and increased consumer spending are driving the change in how Japanese citizens handle their money. Rise in Investments : While cash holdings are declining, investment assets are on the rise. Investment trust holdings hit a record high, and individual investments in Japanese gov...