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.
Stocks closed near the flatline Tuesday after a choppy trading session as U.S. oil prices seesawed and investors looked ahead to Fed Chair Janet Yellen's testimony.
The Dow fell nearly 150 points shortly after the open but briefly turned positive. The blue chips index briefly rose 100 points in late-afternoon trading, with Home Depot contributing the most gains.
The S&P 500 dropped nearly 1 percent at the open before briefly turning positive. The index held lower for most of the afternoon but briefly tried for gains as energy traded off its session lows.
The Dow fell nearly 150 points shortly after the open but briefly turned positive. The blue chips index briefly rose 100 points in late-afternoon trading, with Home Depot contributing the most gains.
The S&P 500 dropped nearly 1 percent at the open before briefly turning positive. The index held lower for most of the afternoon but briefly tried for gains as energy traded off its session lows.
The Nasdaq composite seesawed, opening down more than 1 percent, before reversing losses and gaining about 1 percent. In afternoon trading, however, the index fell more than 1 percent before trying for gains.
Investors also kept an eye on oil prices Tuesday. WTI futures plunged 5.89 percent, or $1.75, to trade at $27.94 a barrel in choppy trading. Earlier, the International Energy Agency said that demand for oil will "ease back considerably" in 2016. U.S. crude, however, pared losses slightly in after-hours, holding above $28.
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