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.
The US dollar strengthened this week, with an index tracking its performance poised for the biggest weekly gain in nearly six months . This surge is driven by reduced expectations for aggressive US interest rate cuts . Meanwhile, Treasuries remained flat in Asian trading, following Thursday’s selloff that pushed yields to levels not seen since September. West Texas Intermediate (WTI) and Brent crude steadied after rising more than 5% on Thursday, hitting a one-month high . These gains came after comments from President Joe Biden , who mentioned that the US is considering support for potential Israeli strikes on Iranian oil facilities . Investors are worried that such strikes could lead to supply disruptions , especially with the ongoing conflict between Israel and Hezbollah . In the currency markets , the yen strengthened while the British pound remained stable after sharp declines. The South Korean won weakened as local markets reopened following a holiday. In China , a stim...