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.
Global financial markets are reeling from a staggering $6.4 trillion wipeout in stock value, leading traders to brace for what some fear could be the beginning of a prolonged market downturn. The turmoil is driven by mounting concerns about a US economic slowdown and a potential bubble in artificial intelligence (AI) investments. Key Market Movements Asian Markets: The Nikkei in Tokyo fell by 12% , and Kospi in Seoul plummeted by 9% . The Nasdaq in New York dropped by 6% within seconds of opening on Monday, contributing to the global market rout. Cryptocurrencies and Volatility: Cryptocurrencies also took a hit, while the VIX , a measure of market volatility, surged as investors flocked to safe-haven assets like US Treasury bonds. Market Rebound: Some markets showed signs of recovery on Tuesday, with key indices in Japan rebounding more than 10% . However, confidence that the market has reached a bottom remains low. Factors Contributing to the Market Selloff US Economic Concerns: R...