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 Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures (PCE) index , rose a modest 0.1% in November, defying economists' expectations of a 0.2% increase. While this signals a slight easing in monthly inflation pressures, the annual inflation rate edged up to 2.4% from 2.3% , moving further from the Fed’s 2% target . Core PCE Remains Elevated The core PCE index , which excludes volatile food and energy prices, also climbed 0.1% in November. Over the past 12 months, core PCE inflation remained steady at 2.8% , underscoring persistent inflationary pressures. Fed's Adjusted Outlook This inflation data comes shortly after the Fed’s final 2024 meeting, during which officials revised their forecasts: Inflation is now expected to settle at 2.5% by the end of 2025 , slightly higher than prior estimates. The central bank has tempered its plans for rate cuts, aiming for just ...