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 highly anticipated Finance Ministry briefing on Saturday failed to deliver the substantial stimulus that equity investors had hoped for, signaling that market volatility may persist. Despite Finance Minister Lan Fo'an promising more support for the struggling property sector and hinting at increased government borrowing, the absence of a major fiscal stimulus package left traders underwhelmed. Investors were expecting up to 2 trillion yuan ($283 billion) in fresh stimulus, including potential subsidies and consumption vouchers, but the briefing lacked a headline figure . The ministry announced that local governments could issue special bonds to convert unsold homes into subsidized housing, but provided no details on the scale of additional stimulus. Market sentiment turned negative, with Shen Meng , director at Chanson & Co., noting that there is a significant gap between market expectations and what was announced. As a result, investor patience is being tested, ...