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.
Singapore's private home prices rose less than expected, while rents decreased in the second quarter, reflecting the impact of government measures aimed at cooling the real estate market. Key Points: Home Prices: Private home valuations increased by 0.9% from the previous quarter, lower than the earlier estimate of 1.1% and the 1.4% rise in the first quarter. Rental Market: Private rents fell by 0.8%, following a 1.9% drop in the previous quarter. This marks the third consecutive quarter of rent declines, although rents remain high after rising over 50% in the last four years. Government Measures: The government has implemented policies, including a 60% stamp duty on foreign property purchases, to cool the housing market. Market Resilience: Despite the cooling measures, local spending power remains strong, supporting demand. Bloomberg Intelligence analyst Ken Foong noted that "price growth is moderating" but healthy household balance sheets and families wanting to upg...