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.
In the past, the US Federal Reserve (Fed) had a dominant influence on global monetary policy, but today, central banks across the world are taking divergent paths. The post-pandemic global economy has become fragmented, with inflation, growth, and monetary policies varying widely between major economies. This shift signals a decline in America's economic influence on the global stage. While the Fed has been slow in reacting to inflation and rate adjustments, other central banks, like those in Europe and China , are acting independently. For instance, the European Central Bank and Bank of England started lowering rates ahead of the Fed, while China and Japan are pursuing different economic strategies focused on stimulating growth or managing inflation. The yen’s volatility highlights the consequences of these divergent paths. The yen surged and fell dramatically throughout the year as the Bank of Japan and the Fed made different monetary moves. This currency volatility has...