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.
In a significant push to stimulate the struggling property sector , three of China's largest cities have relaxed homebuying restrictions following the central government's latest efforts. Guangzhou became the first tier-1 city to completely remove homebuyer eligibility checks and limits on the number of properties owned, according to a statement issued late Sunday. Meanwhile, Shanghai and Shenzhen announced that more people would be eligible to purchase homes in suburban areas and allowed existing homeowners to buy additional properties. In a move to further boost demand, Shanghai and Shenzhen also lowered minimum downpayment requirements, with first-home buyers needing just 15% and second-home buyers 20% . These changes come as part of China's largest stimulus package to date, aimed at revitalizing the beleaguered property market . The package includes cutting borrowing costs on up to US$5.3 trillion in mortgages and reducing down-payment requirements for second-hom...