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.
Oil prices inched higher during early trade on Monday, supported by concerns that ongoing conflict in the Middle East may disrupt supply from the key producing region, and expectations that the recent US interest rate cut will stimulate demand. Brent crude futures for November delivery rose by 20 cents (0.3%) to US$74.69 per barrel, while US crude futures for November gained 22 cents (0.3%) to US$71.22 per barrel as of 0045 GMT. Both contracts saw gains in the previous session, buoyed by the US rate cut and a dip in supply following Hurricane Francine . The US Federal Reserve’s half-point interest rate cut last Wednesday, larger than expected, has bolstered hopes for increased economic activity and energy demand . A weaker US dollar has also boosted investor sentiment. However, concerns linger over the possibility of a slowing job market , which could affect the broader economic outlook. Further elevating prices are geopolitical tensions in the Middle East, with figh...