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 is considering injecting up to one trillion yuan (US$142 billion) into its largest state banks to enhance their ability to support the country’s struggling economy, according to sources familiar with the matter. This move, potentially funded through the issuance of new special sovereign bonds, would mark the first major capital injection into China’s banks since the 2008 global financial crisis . Despite the fact that China’s top six banks already exceed capital requirements, the injection is aimed at replenishing capital after recent cuts in mortgage rates and key policy rates intended to revive the economy. These banks, including Industrial & Commercial Bank of China Ltd (ICBC) and Bank of China Ltd (BOC) , have been grappling with record-low margins , shrinking profits, and rising bad debt due to economic pressures. Li Yunze, China’s top banking regulator, hinted earlier this week that measures would be taken to boost core Tier 1 capital at the nation’s major banks, a...