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.
HSBC Holdings Plc, Standard Chartered Plc, and Singaporean banks are set to report earnings amid a backdrop of tepid loan growth, presenting challenges for their financial performance. Key Points: HSBC & Standard Chartered: Net Interest Margins: Hong Kong banks, including HSBC and Standard Chartered, are under pressure due to falling Hibor rates, impacting net interest margins (NIMs). Leadership and Revenue: HSBC’s incoming CEO Georges Elhedery faces the challenge of increasing revenue in a falling rate environment and is expected to focus on cost-cutting efforts. Standard Chartered is likely to meet the higher end of its net interest income guidance for 2024 due to a supportive rate environment. Buybacks: Both banks are anticipated to announce new share buybacks, with Standard Chartered expected to announce a US$1 billion share buyback. Singapore Banks (OCBC & UOB): Loan Growth: Overall lending may pick up in the second half of the year, although weak business demand could...