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 latest trade pact between the U.S. and European Union highlights a growing trend of higher tariffs, vague investment pledges, and limited clarity. Analysts are already comparing the deal to Trump’s earlier Phase One agreement with China, where purchase commitments fell short of targets. Under the new deal, the EU agreed to a 15% tariff on key goods, along with $600 billion in investments and $750 billion in U.S. energy purchases by 2028 . While the agreement lowers auto tariffs from 25% to 15% and sets a 15% rate for pharmaceuticals and semiconductors, steel, aluminum, and copper still face 50% tariffs. Markets initially reacted positively, seeing reduced risks of further retaliation. But skepticism remains. Experts doubt the EU can meet the massive energy purchase target, noting U.S. fossil fuel exports to Europe were only $78 billion last year. Investment pledges are also seen as overly ambitious. The deal underscores Trump’s strategy: foc...