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.
A selloff in major technology companies dragged down US stocks on Monday, as investors reacted to geopolitical concerns and adjusted bets on the Federal Reserve's next move , anticipating a smaller rate cut . The S&P 500 fell 1%, breaking a four-week winning streak. Alphabet Inc. sank 2.4% after a judge ruled it must lift restrictions on rival marketplaces competing with its Google Play Store. Meanwhile, Brent crude surged past $80 a barrel amid rising tensions in the Middle East . Friday’s stronger-than-expected US jobs report sparked a shift in market sentiment, dampening hopes for a larger rate cut from the Fed. Treasury yields rose, with the 10-year yield topping 4% . Chris Larkin from E*Trade noted that the jobs report not only lowered expectations for a significant rate cut in November but also raised the possibility of the Fed leaving rates unchanged if economic data continues to surpass forecasts. Energy stocks were one of the few sectors that gained, while t...