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.
Key Takeaways: Critical Tax Break at Risk : Public finance bankers are intensifying efforts to protect the tax-exempt status of state and local government debt. The Trump administration and Congress are considering proposals that could eliminate this tax break, which is essential for keeping municipal bond costs manageable for smaller issuers. Lobbying Efforts Intensify : The Bond Dealers of America (BDA), along with local governments and investors, are now reaching out to the Treasury Department and Trump administration officials, emphasizing the significance of the tax exemption in public finance and nationwide infrastructure development . Tax Exemption Importance : The tax-exempt status is seen as a key factor driving the municipal bond market , helping lower borrowing costs for local governments. Losing this benefit could make issuing bonds prohibitively expensive for s...