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.
The US dollar and Treasuries weakened in Asian trading on Tuesday after President Donald Trump announced the removal of Federal Reserve Governor Lisa Cook, escalating concerns about central bank independence and rattling confidence in US assets. Trump’s Intervention Shakes Market Confidence Trump posted on his Truth Social platform that he had removed Cook on allegations of making false statements on mortgage applications. Her term, originally due to end in 2038, has now been cut short, potentially accelerating the president’s ability to reshape the Fed’s policy stance. The move underscores Trump’s increasingly combative relationship with the Fed. He has repeatedly threatened to fire Fed Chair Jerome Powell — though lacking the legal authority except “for cause.” Powell’s current term as chair expires in May 2026. “ There’s no credibility. That’s the basis of the US being the safest investment in the world. If you’re a responsible investor, it gives you pause, ” said Bart Wakabayashi, ...