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.
Bitcoin climbed to an all-time high of US$124,563 before easing to around US$121,200, moving in tandem with U.S. equity gains. The milestone followed the S&P 500’s second consecutive record close, underscoring strong global risk appetite.
Market Drivers: Optimism over moderating inflation and rising bets on a September Fed rate cut fueled demand for risk assets.
Institutional Support: Corporate treasury purchases — led by Michael Saylor’s MicroStrategy — and continued ETF inflows have strengthened bitcoin’s rally, now boasting a market cap of US$2.5 trillion.
Broader Crypto Lift: Ether approached its near four-year high at US$4,700, aided by sustained demand from newly active treasury firms.
Structural Buying: Analysts note the current rally is driven by institutional and corporate participation, not just retail speculation.
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