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 is expected to receive validation for its recent jumbo interest rate cut as new data on inflation and consumer demand emerge. Economists predict that the Fed's preferred price metric, the Personal Consumption Expenditures (PCE) price index , will rise by just 0.1% for the second time in three months, marking a 2.3% annual gain— the smallest increase since early 2021 , and slightly above the Fed's 2% target. This decline in inflation reflects lower energy and food prices, as well as a moderation in core costs. The PCE price gauge excluding food and fuel is expected to rise 0.2%, according to government data to be released on Friday. These easing inflationary pressures allowed the Fed to confidently implement its first rate cut in over four years , slashing rates by half a percentage point on September 18. The cut represents a pivotal shift in policy, aimed at preventing further deterioration in the job market. Bloomberg economists noted, "The Fed'...