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.
Key Takeaway: U.S. equities reversed early weakness to end Tuesday at fresh record highs, with investors betting that weaker labor data and large downward payroll revisions will accelerate the Federal Reserve’s rate-cut cycle. The S&P 500 gained 0.3%, the Dow Jones Industrial Average rose 0.4% to a record, while the Nasdaq 100 added 0.3%, just shy of a new peak. Market Performance S&P 500 : +0.3% to close at a record high. Dow Jones Industrial Average : +0.4%, also at a record close. Nasdaq 100 : +0.3%, narrowly missing a fresh record. Gains were led by Alphabet (GOOGL US) , after an executive projected a US$58 billion revenue boost in its cloud unit by 2027. Drivers: Jobs Revision and Fed Outlook The Bureau of Labor Statistics reported payrolls would be revised down by 911,000 jobs for the 12 months through March. This follows last week’s weaker labor market data, reinforcing expectations for a dovish Fed shift. Northlight Asset Management CIO Chris Zac...