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.
Tariff Shock Threatens India’s Growth Path Moody’s Ratings flagged serious risks to India’s manufacturing ambitions after U.S. President Donald Trump doubled tariffs on Indian goods to 50%, citing continued Russian oil imports. The move imposes significantly higher penalties on India compared to other Asia-Pacific economies. Investment Gains at Risk The ratings agency warned the higher tariffs could reverse recent foreign investment inflows into India’s industrial base and disrupt its broader growth momentum. “These tariffs may undercut India’s positioning as a rising global manufacturing hub,” Moody’s noted. RBI Holds Policy Steady In a separate move, the Reserve Bank of India left interest rates unchanged and maintained a neutral policy stance, following a surprise 50bps cut in June. Oil Supply Concerns Moody’s also cautioned that any reduction in Russian crude imports to avoid U.S. sanctions could strain India’s ability to secure timely and adequate alte...