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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 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.
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Citi Shuts Most UAE Branches as Banks Evacuate Staff Amid Escalating War

Global  banks  are  scaling  back  operations  in  the  Gulf  as  the  Iran  conflict  deepens,  with  Citibank  temporarily  closing  most  of  its  UAE  branches  and  evacuating  staff  from  key  financial  districts. Citi  Closes  UAE  Branches  Until  March 14 Citibank   will  shut  most  of  its  branches  and  financial  centres  across  the  United  Arab  Emirates  through  March 14  as  a  precautionary  measure. Mall  of  the  Emirates  branch  remains  open Reopening  planned  for  March 16 Citiphone  services  operating  at  limited  capacity Cheque  processing  expected  to  face  delays Earlier  this  we...
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Norway Delays Rate Cuts as Inflation Surges Past Expectations

Norway's central bank  kept interest rates steady at a 17-year high of 4.5% , postponing a long-expected rate cut as  inflation rose faster than anticipated . Key Points: Norges Bank had earlier hinted  at a 0.25% rate cut in March, but reversed course due to inflation risks. Core inflation in February jumped to 3.4%  from 2.8% in January — far above the 2% target. Governor Ida Wolden Bache warned that  cutting rates too soon may fuel further price rises . The policy rate is now projected to fall to  4.0% by year-end , higher than the previous forecast of 3.75%. Longer-term, Norges Bank sees a  gradual rate decline  in the coming years. The  Norwegian crown strengthened  slightly following the decision, trading at 11.34 against the euro. Economic Outlook: Norges Bank raised its  core inflation forecast for 2025 to 3.4% , up from 2.7%, and 2.9% for 2026. Despite global uncertainty,  Norwegian businesses expect stable growth , wi...
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