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.
Equities Overview: China and Hong Kong markets experienced significant gains on Monday, buoyed by Beijing’s latest measures aimed at addressing the ongoing property crisis. The CSI 300 index is poised for its largest daily increase in 16 years , while iron ore prices surged as major Chinese cities eased home buying restrictions. Conversely, Japanese stocks fell sharply, contributing to a decline in the MSCI Asia Pacific gauge after the leadership victory of Shigeru Ishiba , which caught investors off guard. Investor Sentiment: Matthew Haupt, a portfolio manager at Wilson Asset Management, noted that China’s government appears increasingly committed to stimulating the economy, which may provide a more sustainable rally compared to previous attempts. Investors are keenly awaiting further announcements that could bolster confidence in the Chinese economy and stock market. European Market Outlook: European markets are anticipated to start the week on a subdued note, following profit wa...