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.
The latest developments in oil markets point to a clear trend: China is buying less crude , raising concerns about demand strength in the world’s largest energy importer. Chinese Refiners Cut Back on Purchases China’s independent refiners who the main buyers of Iranian crude are reducing operating rates as profitability weakens. Key pressures include: Negative refining margins Slower domestic fuel demand Ongoing economic headwinds These factors are forcing refiners to cut crude intake , leading to a visible drop in demand. Import Volumes Show Clear Decline The slowdown is reflected in trade flows: Iranian crude shipments to China dropped to ~1.1 million barrels per day This is the lowest level since early 2025 Given that these refiners typically account for around 90% of Iran’s exports , the decline has a significant impact on global oil demand . Rising Floating Storage Signals Oversupply With demand weakening, excess crude is buildi...