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.
China is weighing the removal of major restrictions on home purchases in its largest cities, including Beijing and Shanghai , in a bid to revive its slumping housing market , according to sources familiar with the matter. Regulators are discussing proposals that would allow non-local buyers —those without a Hukou residence permit —to purchase homes in mega cities. This relaxation would remove a significant barrier that many smaller cities have already lifted, the sources said. The government is also considering eliminating the distinction between first- and second-home purchases , potentially enabling lower down payments and reduced mortgage rates for second-home buyers. Policymakers are under pressure to reverse a housing slump that has now dragged into its fourth year , slowing China's economy and leaving millions unemployed. Several financial institutions, including UBS Group AG and Bank of America Corp , predict China will miss its 5% growth target for this year. Addi...