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's top lawmakers approved a plan to gradually raise the retirement age for the first time since 1978, aiming to slow the decline in the labor force and address the challenges of an aging population. This change, set to begin on January 1, 2025, will be implemented gradually over 15 years. Key Changes: Men's Retirement Age: Will increase from 60 to 63. Women's Retirement Age: Will rise from 50 and 55 to 55 and 58, depending on their roles (ordinary workers or management positions). Rationale and Expected Impact: The adjustment is intended to counter demographic pressures on China's economy by allowing people to work longer. The move is expected to help stabilize the workforce and reduce the strain on the pension system. A gradual implementation aims to minimize potential public backlash and economic disruption amid an already slowing economy. From 2030, workers will also need to contribute to their pension accounts for longer periods, with the eligibility period g...