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.
After a stellar year for U.S. stocks , with the S&P 500 up over 23% in 2024 , investors are cautiously optimistic about the "Santa Claus Rally" —a seasonal boost traditionally seen in the final days of December and early January. However, rising Treasury yields , a hawkish Federal Reserve , and narrowing market breadth suggest Santa might disappoint this year. Key Highlights 1. Historical Context The Santa Claus Rally period, comprising the last five trading days of December and the first two of January, has historically yielded an average 1.3% S&P 500 gain , according to the Stock Trader’s Almanac . Positive performance during this period is often seen as a harbinger of gains for the following year, with a 90% success rate when paired with other January indicators. 2. Market Challenges Biggest Drop Since August : The S&P 500 fell sharply on Wednesday after the Federal Reserve signaled fewer rate c...