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.
China’s central bank moved to shore up the yuan on Thursday, setting its daily reference rate well below analyst forecasts after the currency slid to a two-month low against the U.S. dollar. Key Points: Stronger Fixing: The People’s Bank of China (PBOC) set the yuan’s reference rate around 7.15 per dollar , the biggest divergence from market estimates since April. Market Reaction: The offshore yuan rebounded 0.2% to 7.1993 , after touching its weakest level since early June. Dollar Surge: The move came as the U.S. dollar hit a two-month high, driven by stronger U.S. trade deals and Fed Chair Jerome Powell’s hawkish comments on interest rates. Regional Moves: Monetary authorities in Indonesia and Hong Kong also intervened to defend their currencies as the greenback’s rally pressured Asian FX markets. The yuan and Singapore dollar remained relatively resilient compared to other regional peers. Why It Matters: The PBOC is balancing...