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.
Key Highlights: Quarterly Increase: German residential real estate prices rose for the first time in nearly two years during the second quarter, driven by expectations of lower borrowing costs and a shortage of new housing. Price Gains: In the period ending June 30, prices for apartments increased by 2.4%, and single-family houses rose by 2%, compared with the previous quarter. Prices for multi-family houses saw a more significant increase of 4.4%. Market Trends: Year-over-Year Comparison: Although property prices remain lower than the same period last year, the decline has been narrowing for the third consecutive quarter, according to the German Real Estate Index published by the Kiel Institute for the World Economy. Market Turnaround: "The turnaround in the real estate market has begun," said Kiel Institute researcher Jonas Zdrzalek. He attributed the stabilization to reduced uncertainty and the prospect of falling interest rates. The decline in new construction has a...