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 Rally Sets the Tone Asian equities looked set to extend a worldwide rally on Friday after US inflation data and a cooling labor market reinforced expectations that the Federal Reserve will cut rates next week. Futures for Japan, Australia, and Hong Kong all pointed higher following record closes for the S&P 500 and Nasdaq 100 overnight. A global stocks gauge also notched a fresh high. US equity contracts were flat in early Asia trade. Tech Boost in US Markets Microsoft gained in post-market trading after striking a new agreement with OpenAI, while Adobe rose on upbeat revenue guidance. Hyundai, meanwhile, flagged delays at a US battery plant due to labor shortages following an immigration raid. Inflation and Jobs Data Pave the Way for Fed Easing The August US consumer price index showed core inflation — excluding food and energy — rose 0.3% month-on-month and 3.1% year-on-year , in line with forecasts. At the same time, jobless claims spiked to their highest in n...