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.
New Property Tax Reduction for Low-End Homes Hong Kong will cut stamp duty to HK$100 ($12.80) for homes valued at HK$4 million ($515,000) or below . Previously, transactions between HK$3M-HK$4M were taxed up to 1.5% of deal value . Finance chief Paul Chan announced the move in his 2025 budget speech. Hong Kong’s Struggling Real Estate Sector Property prices have plunged 27% since 2021 , nearing 2016 levels due to high borrowing costs, weak economy, and oversupply . Despite scrapping all extra stamp duties & relaxing mortgage rules last year, home prices still fell 5% in 2024. The latest tax reduction will benefit ~15% of all property transactions, according to government estimates. Government’s Property Market Dilemma Hong Kong’s economy is heavily reliant on property revenue , making real estate stabilization crucial. Previous policy changes failed to stop the downturn, leading to this new tax cut targeting budget home buyers. Summary: Stamp duty cut to HK$100 for...