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.
Gold traded close to a one-month low on Tuesday, with investors focused on upcoming US economic data and Federal Reserve comments to gauge future interest rate decisions. Spot gold held steady at $2,622.89 per ounce after hitting its lowest since October 10. US gold futures rose slightly by 0.4% to $2,629.10. The US dollar remains near a four-month high , making gold less appealing for holders of other currencies. Key data releases, including the US Consumer Price Index on Wednesday and Producer Price Index on Thursday , could shape the outlook on inflation and influence Fed policy. Gold prices have faced pressure since Trump’s presidential victory , with potential policy shifts hinting at higher inflation and extended high interest rates. Although the Fed recently cut rates by 25 basis points, another cut may follow in December , with a 66% likelihood according to market estimates. Gold, traditionally a hedge against inflation, often loses its appeal when interest rates rise , as h...