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.
Sethaput Suthiwartnarueput , Governor of the Bank of Thailand (BOT) , indicated that the central bank is unlikely to rush into further interest rate cuts , following last week’s surprise rate reduction. Speaking in an interview with Bloomberg Television, he stated that the bar for further rate adjustments would be set reasonably high . The BOT's first rate cut in over four years was driven by concerns over slowing credit growth , but future actions will depend on the outlook for inflation , economic growth , and financial stability . This position sets the BOT at odds with Prime Minister Paetongtarn Shinawatra’s government , which is pushing for lower interest rates and a higher inflation target to stimulate Thailand's sluggish economy. Sethaput emphasized that the current inflation target range of 1%-3% has helped keep price expectations anchored and allowed for moderate monetary tightening, contrasting with more aggressive hikes by neighboring countries. The BOT govern...