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.
India’s new monetary policy committee (MPC) may be preparing the groundwork for an interest rate cut on Wednesday as global central banks shift towards easing, and growth in India's economy moderates. While most economists expect the Reserve Bank of India (RBI) to keep its repo rate unchanged at 6.5% , several anticipate a switch to a neutral stance , a move that would pave the way for a potential rate cut by December. The meeting is the first under a new MPC following the appointment of three external members, who are expected to align with RBI’s current views, at least initially. Governor Shaktikanta Das has resisted rate cut calls due to concerns over high food prices and inflation staying above the 4% target . However, favorable monsoon rains and projections of a bumper harvest are boosting expectations of easing inflation, putting pressure on the RBI to follow global trends, particularly as the US Federal Reserve and other central banks begin to pivot. HSBC economists ...