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.
US consumer spending, a key driver of the economy, grew by 0.4% in November , following a revised 0.3% gain in October , reflecting the economy’s resilience. This solid spending trend supported the Federal Reserve’s decision to adjust its outlook, projecting only two rate cuts in 2025 , down from four anticipated three months ago. Economic Highlights: Consumer spending, representing over two-thirds of US economic activity, continues to underpin the economy, which grew at an annualized 3.1% rate in Q3 . The Atlanta Federal Reserve forecasts Q4 GDP growth at 3.2% , reflecting a slight deceleration from earlier quarters. Fed Chair Jerome Powell commended the economy’s performance, stating it has been “remarkable.” Inflation Trends: The PCE price index , a key inflation measure, rose 0.1% in November , compared to 0.2% in October . On a yearly basis, the PCE index increased 2.4% , with core inflation holding steady at 2...