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.
Investors are turning to cash, India, China's markets, and Singapore dollars as they brace for the impact of the upcoming US presidential election on global financial flows. As Asia is highly sensitive to changes in US trade policies, many money managers are steering clear of risky bets and focusing on reducing exposure to vulnerable sectors, such as Japanese manufacturers and Hong Kong stocks . Jon Withaar of Pictet Asset Management highlights China as a stable market with domestic drivers that may be less affected by global movements, while Nick Ferres of Vantage Point Asset Management is staying cautious, maintaining short positions on the yen and focusing on Japanese stocks . With Republican candidate Donald Trump currently leading in betting odds, investors anticipate inflationary pressures and rising interest rates under a potential Trump administration. Meanwhile, India's strong domestic growth and limited exposure to global trade risks make its markets appealing. ...