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 shoppers are projected to increase their holiday spending this year, with the average consumer expected to spend $1,638 (RM6,807.43) , reflecting a 7% rise compared to 2023, according to PwC's annual holiday outlook. This growth suggests resilience among consumers despite the ongoing challenges posed by rising prices that have impacted purchasing power. Diverging Consumer Sentiments However, this optimistic spending forecast masks underlying stress among lower-income consumers. PwC reports that 85% of consumers are planning to cut back on expenditures, primarily in nonessential categories such as dining out and luxury items. This shift indicates a growing price sensitivity that retailers must navigate carefully. PwC researchers noted, “Many brands already find themselves in a tricky spot” as high prices diminish customer loyalty, prompting a shift towards private labels and store brands. To combat this trend, companies are advised to adopt strategic pricing and promotion , en...