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.
Asian equities rose on Thursday, bolstered by a fresh US market high ahead of upcoming inflation data that could shape Federal Reserve policy in the coming months. Stocks in Japan, South Korea, Australia, and China advanced, driven by positive momentum from Wall Street and news of a People’s Bank of China liquidity tool for institutional investors to purchase stocks, a measure initially announced last month.
Shares in Hong Kong and mainland China surged after details of the liquidity tool were released, though markets remain volatile following a sharp drop in mainland stocks earlier this week.
Treasuries were steady during Asian trading, following a slight rise in yields in New York. The Bloomberg Dollar Spot Index remained unchanged after rising for eight consecutive sessions. The yen also held steady, while South Korean bond futures rose after news of inclusion in FTSE Russell’s World Government Bond Index.
Market volatility remains high as investors await clarity on China’s fiscal policy, with a press conference scheduled for the weekend to discuss potential economic support. Morgan Stanley noted that more concrete steps from China’s Ministry of Finance are necessary to reassure markets of a sustained recovery.
Back in the US, the S&P 500 rose 0.7% to hit its 44th record of the year, driven by gains in tech stocks like Apple Inc, which climbed 1.7%. However, Tesla Inc edged lower ahead of its Robotaxi launch, while Alphabet Inc fell 1.5% amid reports that the US government is considering a Google breakup in a major antitrust case.
Inflation data expected later today is projected to show a 0.1% increase in consumer prices for September, marking the smallest gain in three months. Year-over-year, CPI is expected to rise 2.3%, reflecting continued moderation in inflation and supporting the Fed’s expected policy easing in the months ahead.
In commodities, oil edged higher amid growing US crude inventories, while gold remained largely unchanged after falling for six straight sessions.
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