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.
Germany is experiencing a mild recession and is unlikely to see any economic growth for the rest of 2024, according to a Bloomberg survey of analysts. The poll forecasts a 0.1% contraction in the third quarter , following a similar unexpected decline in the second quarter. Just a month ago, analysts had predicted stagnation for the period between July and September. This marks a downward revision from the previously anticipated 0.1% growth for the year , but remains slightly more optimistic than the German government’s forecast of a 0.2% contraction . Germany is grappling with several challenges, including the loss of Russian energy supplies , weak export demand from China , difficulties in its automotive sector , and a shortage of skilled workers . The economic downturn in 2024 could result in the second consecutive year of GDP decline, a rare occurrence since the reunification of West and East Germany in 1990. In 2023, Germany was the only Group of Seven (G7) economy to shrink, w...