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.
Chinese stocks have experienced a dramatic turnaround, with the CSI 300 Index surging 6.5% on Monday , marking its largest single-day gain since 2015. This rally extends a nine-day streak , pushing the index into a bull market after recovering more than 20% from its lows in mid-September. The gains come after the index had lost over 45% of its value from a 2021 high through mid-September. The rally follows significant government stimulus measures , including the easing of housing market rules in three of China’s largest cities, mortgage rate cuts , and liquidity support for the stock market. These actions, announced last week, also included interest rate cuts and freeing up cash for banks, signaling a comprehensive effort to revive the beaten-down market. Investor sentiment has surged, with turnover on the Shanghai and Shenzhen stock exchanges exceeding one trillion yuan ($143 billion) within just 30 minutes of trading on Monday. Analysts are optimistic about the market’s moment...