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.
Taiwan, a key player in the global semiconductor industry, will implement a significant electricity price increase starting in mid-October, affecting its industrial users. The Economics Ministry announced that power prices will rise by an average of 12.5% , placing additional financial pressure on major companies like Taiwan Semiconductor Manufacturing Co. (TSMC) . This hike in electricity rates follows a previous increase in April, which saw power bills for industrial users surge by 15% to 25% . TSMC experienced the steepest increases, raising concerns about its profit margins amidst rising operational costs. The latest decision is driven by an anticipated annual growth in power consumption of 2.8% through 2033, largely fueled by demand from the AI sector . The state-owned utility, Taiwan Power Co. (Taipower) , has faced substantial financial challenges over the past two years as it attempted to maintain lower prices despite escalating fuel costs. The utility reported a staggering ...