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.
Canada's inflation rate slowed to 2.7% in June, down from 2.9% in May, according to Statistics Canada. This decline provides the Bank of Canada with some leeway to consider cutting interest rates in its upcoming policy decision on July 24. Key Highlights: Consumer Price Index (CPI): The CPI rose 2.7% year-over-year in June, aligning with economists' expectations. This marks the sixth consecutive month that Canada's inflation rate has stayed within the central bank's target range, returning to its weakest level since early 2021. Monthly Changes: On a monthly basis, the CPI fell by 0.1%, contrary to an expected 0.1% increase. Seasonally adjusted, the CPI rose 0.2%. Market Reactions: Canadian Dollar and Bonds: Following the report, the Canadian dollar weakened, trading at C$1.3698 per US dollar. Canada bonds rallied, with yields on 10-year government notes falling 4.8 basis points. Traders' Expectations: The likelihood of a rate cut next Wednesday increased to abou...