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.
After more than two years of currency pressures, Asia's central banks are set to receive some relief as the US Federal Reserve (Fed) is poised to cut interest rates by a quarter point on Wednesday. However, the path ahead for the region's monetary policy remains uncertain and potentially challenging. Lower rates in the US provide room for officials in Jakarta, Seoul, Mumbai , and other capitals to consider easing their own rates. The anticipation of the Fed's rate cut has already attracted investors to emerging Asian debt and equities, boosting currencies across the region. Uncertain Path Ahead for Asia's Central Banks The critical question now is how much these central banks need to cut in the coming months, or whether they need to cut at all. Countries like India and the Philippines face inflationary risks, while South Korea might prioritize financial stability. “It would be an error to think the region’s policymakers are chomping at the bit for their chance to c...