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.
Emerging-market currencies fell for the fifth consecutive session on Monday as traders adjusted their expectations for a US Federal Reserve (Fed) interest-rate cut , following signs of a strong US economy. The MSCI Inc. gauge for developing-nation currencies dropped 0.2%, marking its longest streak of losses since July. Among the worst performers were the Malaysian ringgit and Indonesian rupiah . The decline comes as oil prices rose due to heightened tensions in the Middle East , adding to market uncertainty. Last Friday’s stronger-than-expected US jobs data prompted traders to rethink the Fed’s policy trajectory, pushing US Treasury 10-year yields above 4%, and reducing the likelihood of a half-point interest rate cut . “The repricing of the US easing cycle is likely to keep emerging-market foreign exchange (EMFX) under pressure in the short term,” said Luis Estrada, strategist at RBC Capital Markets. Bearish bets on the US dollar are being reversed as investors buy doll...