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.
Kenanga IB Predicts Higher Development Expenditure in Budget 2025 to Boost Infrastructure and Economic Growth
Kenanga Investment Bank Bhd (Kenanga IB) anticipates the Malaysian government to increase its development expenditure (DE) to RM94.5 billion in Budget 2025 , up from RM88.5 billion in 2024. This rise is expected to enhance infrastructure projects such as the revival of the Mass Rapid Transit 3 (MRT3) and the Kuala Lumpur-Singapore High-Speed Rail (KL-SG HSR) . Kenanga IB highlighted that in addition to transport, other key DE spending will likely focus on agriculture, education, healthcare, affordable housing, and national security , amid increasing regional tensions. On the operating expenditure (OE) front, Kenanga IB projects a rise to RM306.5 billion , despite the expected removal of the RON95 blanket fuel subsidy in the second half of 2025. Savings from this move could be redirected towards targeted assistance, civil servant salary increases, and progressive wage policies . The government's revenue is expected to rebound by 4.3% to RM316.5 billion in 2025, driven by reven...