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.
The Federal Reserve’s decision to halt further interest rate cuts this week, despite market volatility and political brinkmanship, appears to align with economic indicators showing moderated inflation and steady economic growth. Market Reaction and Volatility On Wednesday, the Federal Reserve delivered an expected rate cut while signaling fewer reductions in 2025 than previously anticipated. This led to a dramatic selloff, with the Dow Jones Industrial Average (DJI) plunging over 1,100 points and extending a historic 10-session losing streak. Similarly, the S&P 500 (SPX) and Nasdaq Composite (IXIC) saw their steepest Fed-day losses in years. However, relief came on Friday as stocks rallied after the release of November's Personal Consumption Expenditures (PCE) inflation data, which showed softer-than-expected price pressures. The Dow gained nearly 500 points, with the S&P 500 and Nasdaq also climbing over 1%. Inflation Modera...