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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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Singapore Moves to Cool Property Market With Tougher Stamp Duties

Singapore is turning up the heat on short-term property speculation. In a coordinated move on Thursday night, the  Ministry of National Development ,  Ministry of Finance , and the  Monetary Authority of Singapore (MAS)  announced new  cooling measures  for the private residential property market — extending the  seller’s stamp duty (SSD)  period and hiking rates significantly. Effective  July 4 , anyone selling a private residential property  within four years  of purchase will face  higher SSD rates , with the steepest penalty —  16%  — now applying to properties sold within the  first year , up from 12% previously. Updated Seller’s Stamp Duty Rates (Effective July 4) Holding Period Previous SSD New SSD Up to 1 year 12% 16% >1 year – up to 2 years 8% 12% >2 years – up to 3 years 4% 8% >3 years – up to 4 years 0% 4% Beyond 4 years 0% 0% The government cited a “ sharp rise ” in  short-term flipping ...
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Kamala Harris Puts Housing at the Center of Economic Policy in Presidential Bid

Democratic presidential nominee Kamala Harris is making housing a focal point of her campaign, proposing ambitious plans to address rising costs that have made home ownership increasingly unattainable for many Americans. Amid economic concerns dominating voters' minds, Harris's housing policy aims to tackle the U.S. housing shortage through a mix of tax incentives and government initiatives, reflecting her commitment to easing the financial strain on households. Key Takeaways: Ambitious Housing Goals : Harris has proposed building three million additional housing units over four years, in addition to the one million typically constructed annually by the private sector. Her plan includes a new tax credit for developers who build homes targeted at first-time buyers, as well as a $25,000 tax credit for those buyers. This initiative is part of a broader strategy to increase affordable housing, streamline regulations, and expand rental assistance. Economic and Political Context : Ho...
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