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 fell on Friday as traders anxiously await Israel's potential retaliation against Iran and news of China's economic stimulus plans. Brent crude , the global benchmark, dropped below $79 a barrel , paring its weekly gains to less than 1%. The decline follows Israel's indecision on how to respond to last week's missile attack from Iran, which has kept investors on edge amid heightened volatility in the energy markets. While US President Joe Biden has advised against targeting Iranian energy facilities , the uncertainty surrounding possible retaliatory measures has led hedge funds to increase net-long positions in oil, signaling caution over further escalation in the Middle East. Analysts expect Israel to act at an "appropriate time," according to Harry Tchilinguirian , head of oil research at Onyx Commodities Ltd , who warned about the risk of escalation without miscalculation . Meanwhile, traders are also awaiting further details on China'...