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.
C hina's Brokerage Industry Reshaped by Mega Merger China International Capital Corp (CICC) and China Galaxy Securities to merge , forming a financial giant with $193 billion (¥1.4 trillion) in assets . The deal, backed by Chinese authorities, will be executed via a share swap and is expected to be announced in the coming weeks. Market & Industry Impact CICC shares surged 8% and China Galaxy soared 10% in Hong Kong following the merger news. The merged firm will surpass Huatai Securities , becoming China’s third-largest brokerage , after Citic Securities and the Guotai Junan-Haitong Securities merger . China's $1.6 trillion securities industry is undergoing consolidation , with Beijing pushing for stronger domestic investment banks to compete with global giants like Goldman Sachs and Morgan Stanley . Regulatory & Economic Context The merger aligns with China’s financial sector reforms , encouraging consolidation to create 10 leading inst...