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.
Bitcoin soared to a two-week high of $66,479 on Monday, driven by gains in the cryptocurrency market and comments from U.S. Vice President Kamala Harris supporting the establishment of a regulatory framework for digital currencies. Alongside Bitcoin, Ethereum also rose by 6%, approaching its previous highs. Other major cryptocurrencies followed suit, with all top 10 coins recording gains. Harris's support for digital asset regulation is seen as a positive shift, especially for groups like African Americans , where over 20% have invested in cryptocurrency. Her proposal would ensure protections for these investors. This commitment from Harris contrasts with the Biden administration’s stricter stance on digital assets, marking a key moment in the lead-up to the 2024 U.S. presidential election . The market also reacted to former President Trump’s courting of cryptocurrency voters, adding further momentum to the cryptocurrency rally. With election-related predictions fluctuatin...