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.
Emerging Asian currencies weakened on Friday, tracking a stronger US dollar after the Federal Reserve signaled a slower, more measured pace of monetary easing. Stocks Cool Off The MSCI EM Asia equities index — dominated by China, Taiwan, and South Korea — slipped just below a four-year high. Singapore’s Straits Times Index dropped for the sixth straight session after hitting a record high last week. Taiwan and South Korea stocks also pulled back from record levels reached on Thursday. Markets had rallied sharply ahead of the Fed decision on hopes for further rate cuts. Analysts still see easier US policy supporting risk appetite, but valuations in Asia’s major markets are starting to look stretched. Currency Moves An MSCI index of EM currencies fell for the second day after touching a 10-week high earlier in the week. Malaysia’s ringgit : weakest in a week. Indonesia’s rupiah : hit a four-month low, down ~1.5% since Finance Minister Sri Mulyani’s dism...