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.
According to Deloitte, British consumer sentiment fell by 2.6 percentage points in Q2 — marking the sharpest drop since 2022 and hitting its lowest point since early 2024.
What's Driving the Decline?
Job Security Fears
Consumers are getting nervous as unemployment hits 4.7% — the highest since 2021. Companies are cutting back on hiring, partly due to:
Higher employment taxes
Minimum wage hikes (April)
Stricter employee protection laws
Cost-of-Living Pressure
Inflation is back at 3.6% (June) — making daily expenses heavier and pushing debt sentiment lower.
Mixed Signals from the Economy
Interestingly, while consumers feel worse, Deloitte notes business confidence is rising (per their CFO survey). And another sentiment tracker (GfK) showed improvement.
“We’re seeing resilience in the face of global uncertainty,” said Deloitte’s chief economist Ian Stewart.
But make no mistake — this drop in confidence is real and broad. Deloitte’s survey of 3,200 people revealed worries across all fronts:
Job security
Job opportunities
Income growth
Debt levels
Children’s welfare
Health & wellbeing
Even though views on the economy improved slightly, they’re still far below last year’s levels.
Why It Matters
When people feel uncertain, they spend less. That could put pressure on UK growth just as the country tries to recover momentum.
Takeaway
Consumers are tightening their belts — and unless job security and cost-of-living pressures ease soon, the UK economy could face a spending slowdown heading into the second half of the year.
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