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.
While US Federal Reserve rate cuts are welcomed by manufacturers like Drew Greenblatt, president of Marlin Steel , they offer little relief from the bigger challenges faced by US factories , especially the intense competition from China . Greenblatt's Baltimore-based factory saw a surge in orders during the COVID-19 pandemic as a key client shifted production out of China, but those orders dried up this year when the customer moved back to China to cut costs. Despite a half-point rate cut by the Fed, Greenblatt's situation highlights deeper issues that lower rates can't solve, such as supply chain disruptions , rising material costs , and growing labor unrest . The fierce competition from China remains a significant hurdle for many US manufacturers, particularly as customers prioritize cost savings. Vice President Kamala Harris is set to introduce new economic policies aimed at helping Americans build wealth, with specific incentives for businesses. This comes ahead of...