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.
President Donald Trump’s sweeping “reciprocal” tariffs officially kicked in early Wednesday, sending shockwaves through global markets and escalating tensions in what’s shaping up to be the most aggressive trade war in decades. Among the harshest measures: a 104% tariff on Chinese goods , nearly double the rate announced last week. The fallout has been swift — U.S. and global stocks are tumbling, safe-haven bonds are being sold off in a panic, and fears of a global recession are mounting. The S&P 500 has now endured its deepest drop since its inception in the 1950s , nearing official bear market territory. Markets Reel, Bonds Buckle The turmoil has even spread to U.S. Treasury bonds, once considered the safest of assets, with forced selling triggering liquidity concerns . Stocks in Europe and much of Asia continued their descent, while China’s market found some footing thanks to government support . Beijing has vowed to retaliate. “China will neve...