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.
The Malaysian government is considering an increase to the ceiling price of local white rice , currently set at RM2.60 per kg since 2008, in response to an ongoing rice shortage , said Agriculture and Food Security Minister Datuk Seri Mohamad Sabu . With the floor price of paddy rising from RM900 to RM1,300 per tonne, the current price of rice may no longer be sustainable. Mohamad highlighted that industry feedback suggests the current ceiling price is uncompetitive , and discussions with stakeholders are ongoing. A report on cartel activities in the rice and paddy sector, prepared by the Malaysia Competition Commission , will soon be reviewed to aid in comprehensive reforms. The government is also exploring standardized rice pricing across all states , with a detailed study on new adjustments expected soon to ensure stable prices and fair income for rice farmers nationwide.