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.
Global stocks made a strong recovery on Tuesday, reversing some of the heavy losses from the previous day. Central bank reassurances helped to calm investor nerves, but caution still prevails in the market. Key Points: Stock Market Recovery: The Nikkei index surged over 10%, climbing above 34,500 after closing at 31,458 on Monday. This followed a 12.4% drop, marking its worst daily sell-off since the 1987 Black Monday crash. Wall Street showed signs of stability, with S&P 500 futures rising 1% and Nasdaq futures up 1.4%. Europe’s STOXX 600 index also gained 0.7% after a 2.2% decline on Monday. The S&P 500 and Nasdaq faced significant losses on Monday, dropping 3% and 3.43%, respectively, amid fears of a potential US recession. Treasury Yields and Investor Sentiment: Yields on 10-year Treasury notes recovered to 3.84% after dipping as low as 3.667%. IG Chief Market Strategist Chris Beauchamp noted that the dramatic market movements could have caused investors to overreact. He hi...