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.
Canada's economic growth in the third quarter is projected to be significantly weaker than the Bank of Canada's (BOC) forecast of 2.8% annualized growth, with economists suggesting it may come in at less than half of that estimate. Sluggish consumer spending, rising unemployment, and slower-than-expected export growth are contributing factors to the downgraded outlook. Key Takeaways: Lower Growth Forecasts and Rising Risks : The Bank of Canada had predicted a 2.8% GDP growth for the third quarter, driven by lower borrowing costs, increased exports, and higher household spending. However, economists now expect growth to be around 1% to 1.5%, reflecting weak consumer spending and a struggling labor market. If these projections hold, the central bank may be forced to consider larger interest rate cuts to stave off a potential recession. Challenges in the Labor Market : The labor market has shown signs of strain, with unemployment hitting 6.6% in August, the highest rate in seven y...