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.
Japan's consumer inflation rate is expected to rise for the fourth consecutive month in August, according to a Reuters poll of 20 economists. The core Consumer Price Index (CPI), which excludes fresh food but includes energy items, is forecast to increase by 2.8% year-on-year, up from 2.7% in July. This ongoing inflation, driven by rising electricity, gas, and food prices due to rice shortages, continues to surpass the Bank of Japan's 2% target, increasing expectations for further rate hikes.
Trade and Export Data
Data due next week is expected to show that Japan's exports continued to grow in August, driven by a recovery in chip-related shipments. Exports are projected to have risen by 10% year-on-year, slightly below July's 10.3% increase. However, imports are anticipated to have grown by 13.4%, fueled by higher imports of computer and communication equipment, compared to a 16.6% rise in the previous month. This imbalance is likely to result in a trade deficit estimated at 1.38 trillion yen ($9.79 billion).
Upcoming Data Releases
- The Internal Affairs Ministry will release the CPI data on September 20 at 8:30 a.m. local time (2330 GMT, September 19).
- The Finance Ministry will announce the trade statistics on September 18 at 8:50 a.m. local time (2350 GMT, September 17).
Machinery Orders and Capital Spending
Machinery orders, a volatile but key indicator of future capital spending, are expected to have grown at a slower pace of 0.5% month-on-month in July, following a 2.1% increase in June. This data will also be released on September 18 at 8:50 a.m. local time (2350 GMT, September 17).
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