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.
Key Takeaway: JPMorgan’s chief US economist Michael Feroli expects the Fed to deliver two more rate cuts while highlighting surprisingly strong productivity growth in 3Q , supported by steady GDP, resilient labor markets, and tech-driven capital spending. The debate inside the Federal Reserve continues to heat up as policymakers weigh the pace of interest-rate cuts. While newly appointed Fed governor Stephen Miran has called for aggressive easing to protect jobs, the majority of officials — including Cleveland’s Beth Hammack — remain in favor of a gradual approach. JPMorgan’s Michael Feroli said Miran’s call is unlikely to gain traction unless the labor market deteriorates sharply. For now, slowing but stable hiring and low layoffs suggest a maturing cycle, not a distressed one . “Job growth has slowed, but we’re not seeing broad-based job losses,” he noted. Feroli emphasized that despite softer hiring, ...