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 UK's inflation rate plunged to 1.7% in September , down from 2.2% in August, its lowest since April 2021 , driven by declining airfares and petrol prices, according to the Office for National Statistics . This steeper-than-expected drop has increased bets on the Bank of England (BOE) cutting interest rates next month, with investors pricing in a 90% chance of two quarter-point rate cuts by the year's end. This inflation relief comes as a welcome development for finance minister Rachel Reeves ahead of her first budget on October 30 . With a less inflationary outlook, Reeves could gain some fiscal flexibility as she navigates tight spending constraints without unsettling investors. However, concerns remain, as KPMG UK's chief economist , Yael Selfin , cautioned that inflation might rebound due to rising oil and energy prices linked to the Middle East conflict, though this may not prevent the BOE from cutting rates. The drop in core inflation , excluding volatile item...