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.
Wall Street closed lower Wednesday , led by a retreat in tech stocks as investors turned cautious ahead of the Fed’s Jackson Hole symposium . 🔻 Tech-Led Pullback After fueling the post-April rebound, tech stocks took a breather : Nvidia : -2.8% AMD : -3.0% Intel & Micron : -6% Apple : -1.4% Meta : -2.3% This pause follows concerns about stretched valuations and growing government involvement , including possible equity-for-grant deals under the Chips Act. “A pullback after such a strong run is normal,” said Adam Sarhan, CEO of 50 Park Investments. “But deeper selling could shift flows to small-caps or defensive sectors like healthcare.” 🧭 Fed in Focus: Jackson Hole Looms The market is bracing for potential monetary policy clues from: FOMC Minutes (July) — due 2:00pm ET Jackson Hole Symposium (Aug 21–23) Fed Chair Powell's speech — scheduled Friday While traders are pricing in a 25-basis-point rate cut in September , the Fed’s messagi...