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.
China's sovereign wealth fund has recently increased its activity in exchange traded funds (ETFs) to help stabilize the country's stock market during a period of economic uncertainty. This move follows a significant drop in the Shanghai Composite Index. Key Developments Increased ETF Inflows: Daily inflows into four major ETFs favored by Central Huijin Investment Ltd have more than doubled recently. This spike occurred after the Shanghai Composite Index fell below 3,000 points for the first time since March. Notably, the Huatai-Pinebridge CSI 300 ETF saw significant increases. Market Support: The surge in ETF activity suggests that China’s "national team" is trying to boost market confidence ahead of the Communist Party’s Third Plenum later this month. State funds have previously helped stabilize the market during downturns. Ongoing Challenges: Despite these efforts, the market continues to struggle. The CSI 300 Index is heading for its seventh week of declines, th...