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.
A UK cabinet minister has fueled speculation that the government may increase payroll taxes for businesses by raising their national insurance contributions (NICs) , a move aimed at addressing the public finance gap. In an interview with Sky News, Business and Trade Secretary Jonathan Reynolds emphasized that the Labour government’s manifesto only promised not to raise NICs for employees, leaving open the possibility of increasing contributions for employers. National insurance is a payroll tax paid by both workers and businesses. When pressed about the election campaign pledge, Reynolds clarified, "The pledge was specifically in reference to employees." According to a person familiar with Labour’s budget plans , raising employers' NICs is under consideration by Chancellor Rachel Reeves and would not violate the manifesto, which focused on protecting working people from tax increases. Last week, Prime Minister Keir Starmer also left open the possibility of a payrol...