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.
Global Markets
Indices: Dow -0.02%, S&P 500 +0.03% (3rd straight record close), Nasdaq -0.01%
Drivers: Hotter-than-expected July PPI showed the largest jump in US services costs since Mar 2022, trimming odds of a larger September Fed rate cut to 90%. Jobless claims fell, indicating labour market strength.
Yields: US 10Y Treasury at 4.29% as stronger inflation data pressured bonds.
Notable Stock Move: Intel +7.38% on reports of potential Trump administration investment to fund Ohio chip plants, part of efforts to boost domestic semiconductor output.
Malaysia Market
Macro: USD/MYR +50 pips to 4.2125; MGS 10Y steady at 3.48%
KLCI: 1,581.05 (-5.55 pts) on profit-taking after recent gains.
Sector Performance: Gainers – Property (+0.39%), Energy (+0.25%), Telecommunications (+0.11%); Laggards – Transportation (-1.11%), Technology (-0.86%), Consumer (-0.77%).
Trade in Focus
ECOWLD (8206.MY): Jumped to RM2.17 (highest since 2014) with volume nearly double average. YTD +35%, strong fundamentals, attractive yield, and bullish analyst consensus targeting RM2.39 (+11% upside).
Commodities & Crypto
Gold: Extended losses after hot US PPI dampened rate cut hopes; stronger USD added pressure. Focus now on US retail sales and consumer sentiment data.
Crude Oil: Rebounded after two-day drop, supported by strong demand, low inventories, and high refining activity. Prices remain rangebound ahead of US–Russia summit on sanctions.
Cryptocurrency: Bitcoin briefly hit record >US$124,400 before retreating; Ether also pared gains. Rally earlier supported by corporate adoption and rate cut expectations.
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