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.
Coal prices in China are expected to face further declines, extending the slump to new lows due to elevated inventories at major transportation hubs. These stockpiles are at near-record-high levels and are more than a third higher than at the same time last year, according to the China Coal Transportation and Distribution Association. This surplus in supply, combined with reduced consumption, is exerting downward pressure on prices, which have already dropped by over 20% in the past year. Key Insights: High Inventories : Aggressive coal buying from China and other Asian importers in the fall, coupled with lower consumption in early 2025, has led to high stockpiles. As a result, miners are now facing challenges in finding demand for their coal, forcing them to cut prices in an effort to sell. Declining Prices : Coal prices have already hit a four-year low, and industry analysts predict that they may fall further in the coming months. Morgan Stanley analysts, including Sara Chan, warned ...