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.
US business activity continued to expand in October, driven by strong demand , while price increases for goods and services slowed to their lowest pace in nearly 4.5 years , according to S&P Global . The Composite PMI Output Index rose to 54.3 , indicating solid growth in both the manufacturing and services sectors, up from 54.0 in September. Any reading above 50 signals expansion in the private sector. This growth momentum is consistent with recent retail sales data , suggesting that US economic growth gained speed in the third quarter, with the Atlanta Federal Reserve estimating a 3.4% annualized GDP growth rate for the quarter. According to Chris Williamson , Chief Business Economist at S&P Global Market Intelligence , the data indicates a strong start to the fourth quarter, with economic activity sustaining the year-to-date upturn. Additionally, the report showed that price pressures eased, with the measure of prices charged by businesses falling to 51.6 , the lo...