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.
European natural gas prices increased for the fourth consecutive session due to escalating geopolitical risks in the Middle East, causing concerns over fuel supply. Key Points: Price Increase: Benchmark futures for September delivery rose by 2.2% on Wednesday, reaching a five-week high as traders worry about winter stockpile levels. Geopolitical Tensions: Hamas claimed that Israel killed its political leader in an airstrike on Tehran, to which Iran responded with a vow of vengeance. This escalation heightens risks in the energy-rich region amidst global competition for liquefied natural gas (LNG). LNG Supply: LNG flows to Europe were about 30% lower than average in July, coupled with outages at Norwegian fields, further tightening the market. Demand Factors: Despite well-stocked storage facilities for the season, high temperatures are increasing demand for air conditioning, adding pressure to supply. Market Impact: Dutch gas futures for September closed at €35.87 (RM179.41) ...