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 are set for a cautious open after stronger-than-expected US wholesale inflation curbed Wall Street’s momentum and lifted Treasury yields, trimming bets on aggressive Federal Reserve rate cuts.
Futures: Australia & Japan point to gains, Hong Kong futures lower.
Wall Street: S&P 500 flat after a 30% rally since April lows; Intel surged on reports of a potential US government stake; Applied Materials gave a weak forecast after hours.
Rates & FX: US 2-year Treasury yields +6bps to 3.73%; September Fed rate cut odds slipped to ~90%. USD rose; Bitcoin pulled back from record highs.
Inflation Data: July PPI rose at the fastest pace in 3 years, reflecting higher import costs from tariffs. CPI earlier in the week suggested milder pass-through; Fed still expected to cut next month but the strength in wholesale prices could temper the pace.
Regional focus:
China: July retail sales and industrial output data due, with Bloomberg surveys pointing to slower growth amid the longest deflation streak since the 1990s and US trade tensions.
India: S&P Global Ratings upgrade spurred early rally; 10-year yields fell 10bps. Analysts warn of risks from Trump’s 50% tariff on Indian goods, potentially requiring fiscal support.
Commodities: Oil recovered in thin trade ahead of Friday’s Trump-Putin summit; gold eased as rate-cut bets softened.
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