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.
Bets on aggressive monetary easing in economies like the European Central Bank (ECB) and Bank of England (BOE) are complicating the Bank of Japan’s (BOJ) efforts to raise interest rates. As central banks in advanced economies signal rate cuts, the BOJ risks standing out as the only major central bank contemplating rate hikes . BOE Governor Andrew Bailey indicated a shift toward a more active approach to lowering rates , while the ECB is facing increased speculation of aggressive rate cuts due to weak economic data in Canada and Sweden . Analysts at Evercore ISI noted that as other central banks ease rates, it becomes more challenging for the BOJ to raise its own rates. Meanwhile, the Federal Reserve 's recent 50-basis-point cut has further complicated the global outlook. Weak US jobs data in August increased the odds of more Fed action, coinciding with Japan’s recent rate hikes, which triggered a global selloff in Japanese equities . Newly appointed Prime Minister Shigeru ...