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.
RHB Research noted that despite concerns over potential changes to subsidies and the possible reintroduction of the goods and services tax (GST) in Budget 2025, stable employment and government cash aid should help offset the impact on consumer sentiment. “It should be a consumer-friendly budget , with measures such as cash handouts , civil servant bonuses, and income tax relief to support consumption,” the firm said in a note on Thursday. Top stock picks by RHB include MR DIY Group (M) Bhd , a key beneficiary of expected increases in civil servant salaries. The group is also set for growth through its robust expansion plans and new KKV retail chain venture . Additionally, the firm awaits further clarity on the petrol subsidy rationalisation and the government's stance on GST reintroduction . RHB also highlighted the possibility of excise duty hikes for products like cigarettes and beer, with potential sugar tax expansions affecting more products, which could impact compani...