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.
Iron ore prices ticked up again on Monday, continuing last week’s rally — just as traders brace for China’s GDP figures, due Tuesday. The Numbers: Iron ore futures hit US$99.90/tonne , up 0.4% in Singapore Last week saw a 3.6% gain — the best weekly performance since January Chinese steel exports hit a record high of 30.7 million tonnes in Q2 Iron ore imports surged 22% in June compared to May What’s Driving the Market? Speculation of stimulus : Hopes are growing that Beijing will support the ailing property sector and reduce industrial overcapacity — both crucial for iron ore demand China GDP Watch : If Q2 GDP hits or slightly surpasses the 5% target , that’s good news — but it could dampen the urgency for additional stimulus from policymakers Trade diplomacy : Australian mining giants like BHP, Rio Tinto, and Fortescue are in Beijing this week alongside PM Anthony Albanese...