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 Takeaway Gold hit a fresh record above US$3,600/oz as traders priced in a September Fed rate cut and sought protection amid stagflation concerns, governance risks at the Fed, and tariff-driven inflation threats. Market Snapshot Gold Futures (DEC5) : Session High: US$3,631.00 (+1.1%) Prior Close: US$3,592.20 (record) ICE USD Index : 98.35 (–0.05) Treasury Yields : 2Y: 3.66% (+1.5 bps) 10Y: 4.272% (+0.9 bps) Drivers of the Rally Fed Policy Outlook : Markets fully pricing a 25bps cut at Sept. 17 meeting. Lower rates reduce gold’s opportunity cost vs interest-bearing assets. Softer USD enhances appeal of gold to foreign investors. Safe-Haven Demand : Rising stagflation fears from tariffs slowing growth while raising prices. Trump pressures Fed: attempts to fire Governor Lisa Cook, push Powell for deeper cuts. Governance Premium : Concerns over Fed independence adding to gold’s bid. U.S. Treasury Secretary Scott Bessent to start process of ...