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.
US import prices fell by the most in eight months in August, driven by lower costs across a wide range of goods. This decline suggests that domestic inflation is likely to continue to subside in the coming months. According to the Labor Department report released on Friday, the decrease in import prices aligns with recent data showing only mild increases in producer and consumer prices in August, despite persistent underlying inflation. With price pressures easing, the Federal Reserve has shifted its focus to the labor market, which has slowed significantly from last year’s robust growth. "The inflation flare-up early in the year is no longer evident in the prices of imported goods coming into the country, which is another reason to believe that the balance of risks has shifted for Fed officials back to downside risks for the economy and labor market," said Christopher Rupkey, chief economist at FWDBONDS . Import prices fell 0.3% in August , marking the largest decline ...