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.
Following the Federal Reserve's hawkish tone earlier this week, Wall Street faces a new challenge on Friday: the largest 'Triple Witching Day' in history, with $6.5 trillion worth of options tied to individual stocks, indexes, and ETFs set to expire. What is Triple Witching? The term refers to the simultaneous expiration of: Stock options Stock index options Stock index futures This quarterly event is known for spiking trading volumes and creating sudden price swings as traders roll over their positions or establish new ones. Historical Context and Market Impact December's Triple Witching: Historically, this is the most favorable for U.S. stocks. The S&P 500 has a 66% probability of rising in the week after December’s Triple Witching, averaging a return of 0.64% . The "Santa Claus Rally": This week marks the start of the rally, when investors traditionally go long, driving stock gains. Why This Year is Uni...