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.
Asian stocks gained on Monday, following stronger-than-expected US jobs data that boosted optimism about the resilience of the world’s largest economy. This has renewed hopes for a soft landing rather than a recession. Japanese and Australian equities saw gains, while Hong Kong futures slipped. The S&P 500 and Treasury yields rose last Friday after US employers added the most jobs in six months , which recalibrated expectations for the Federal Reserve’s next interest-rate cut. The yield on 10-year Treasuries advanced by one basis point to 3.98% . Kyle Rodda , senior analyst at Capital.com, highlighted the favorable conditions for Asian markets , citing the Goldilocks US economy and Chinese stimulus . Investors are also looking forward to China’s reopening on Tuesday and the announcement of economic policies by the National Development and Reform Commission (NDRC) . Meanwhile, New Zealand bonds fell in anticipation of the central bank’s potential 50 basis point interest-...