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.
Solar wafer manufacturing projects in the US will now be eligible for a 25% investment tax credit , following a new rule announced by the US Treasury Department . This expansion could unlock significant investment in domestic production, addressing a gap in the local supply chain for crystalline silicon wafers , which are essential components for solar panels. The rule extends the credit initially created under the US Chips and Science Act , which was designed to bolster the semiconductor supply chain , to now include solar wafer production. This unexpected policy shift builds on the Inflation Reduction Act of 2022 , which had already spurred new solar panel and cell manufacturing initiatives. The move aligns with the administration's broader efforts to boost domestic manufacturing of key renewable energy components and tackle national security concerns tied to supply chain dependencies. It also comes as US solar manufacturers seek tariffs to counteract the perceived subsidizatio...