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 European Central Bank (ECB) is poised to deepen its global monetary easing efforts with an interest-rate cut , which had been all but ruled out just a month ago. Economists predict that the third quarter-point reduction in this cycle will be part of a broader strategy to counter the sluggish eurozone economy , which is grappling with the impact of high borrowing costs . The ECB’s move is expected to signal a shift toward a more aggressive easing strategy aimed at stimulating growth, with global financial markets anticipating a rate cut after recent survey data highlighted a contraction in the private sector. ECB President Christine Lagarde is expected to address these changes during a press conference on Thursday following the meeting near Ljubljana, Slovenia. The focus will be on how the ECB plans to move forward with further cuts and what significant developments occurred since the September meeting. Initially, officials had nearly ruled out an October cut. However, Slovakian ...