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.
Key Takeaways Fed expected to cut rates by 25 bps to 4.00%-4.25%; markets watching Powell’s tone for guidance. Dollar index lingers near 2-month low; euro touched a four-year high before slight pullback. Gold extends record run, crossing US$3,700/oz for the first time; investors position for dovish Fed. Asian equities mixed: Hang Seng leads with 1.4% gain on optimism over TikTok deal; Nikkei slips. Oil steadies after recent surge; Ukraine drone strikes keep supply risks elevated. FX & Commodities The US dollar index edged up 0.1% to 96.72 after sliding 0.7% on Tuesday, its sharpest fall since July. The euro traded at US$1.1855, near its strongest level since 2021, while the yen held at ¥146.43. Markets have already priced in over five rate cuts this cycle, leaving limited room for further downside in the dollar. Gold climbed 0.2% to US$3,683/oz after breaking above US$3,700 for the first time, supported by Fed easing expectations and safe-haven flows. O...