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.
Evergrande Chairman Hui Ka Yan Detained in Special Shenzhen Centre Amid Ongoing Property Sector Crisis
The chairman of China Evergrande Group , has been moved to a special detention center in Shenzhen, according to two sources familiar with the matter. Hui, 65, has not been seen publicly since Chinese authorities took him into custody a year ago, and his current status had not been reported until now. Hui was fined $6.6 million (RM28.41 million) in March and barred for life from the securities market after China's securities regulator discovered that Evergrande's flagship unit had inflated earnings and committed securities fraud. The company, once China’s largest property developer by sales, was ordered into liquidation in January. Despite these developments, Hui, who was previously China’s richest man, has not been formally charged with any crimes. It remains unclear how long he will stay in detention or if he will face a trial. His transfer to Shenzhen is reportedly to facilitate communication with top Evergrande executives, as the company's headquarters is in nearby Gua...