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.
Oil prices began the week on a positive note, buoyed by expectations of further US policy support for global economic growth following cooling inflation data. Brent crude futures rose by 0.4% to $73.20 per barrel , while US West Texas Intermediate (WTI) crude futures climbed 0.5% to $69.77 per barrel by early trading on Monday. Drivers of the Oil Price Recovery Cooling Inflation : US inflation data showed signs of easing, alleviating concerns about the Federal Reserve's hawkish stance and raising hopes for further policy support in 2025. US Senate Action : Legislation passed by the US Senate to avert a government shutdown over the weekend added to market optimism. European Supply Stability : The Druzhba pipeline, a major conduit for Russian and Kazakh oil to Europe, resumed operations after a brief technical halt, easing supply concerns. Challenges for Oil Markets China's Oil Demand Forecast : Research from Sinopec indicated that China's oil consumption is ...