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: Market Selloff: Jakarta Composite Index fell 2.3% intraday , closing down 1.3% , marking its sharpest fall since June 23. Currency Weakness: Rupiah dropped 0.95% to 16,495/USD , before paring losses to -0.8% on suspected Bank Indonesia intervention. Trigger: Violent protests in Jakarta, including a fatal incident, have raised political risk concerns and shaken investor sentiment. Regional Context: Asian markets broadly cautious ahead of US inflation data , with most currencies weaker; the Philippines peso and South Korean won down 0.4%. Broader Trend: Despite today’s fall, Jakarta benchmark remains +3.8% in August , following a strong rally since April. Market Reaction Equities: The Jakarta Composite Index (JCI) staged its steepest intraday drop in two months, as investors reacted to violent protests over lawmakers’ pay and education funding. Profit-taking was a cl...