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 markets got a boost Monday after the US and European Union struck a trade agreement, easing fears of a deeper trade war. The deal imposes a 15% tariff on most EU goods —half the previously threatened rate—and requires Europe to purchase more US energy and military equipment. The EU agreed to avoid retaliatory tariffs, providing businesses with some much-needed clarity. Market Reaction European futures: Up more than 1% S&P 500 futures: +0.5% Nasdaq futures: +0.6% Euro: Strengthened against the dollar, sterling, and yen Oil: Brent and WTI crude both gained 0.5% Gold: Fell to a near two-week low as demand for safe havens eased “This is a big win for the US,” said Prashant Newnaha of TD Securities. “Markets see this as stability and predictability returning to trade policy.” Asia-Pacific Performance MSCI Asia-Pacific index (ex-Japan): +0.32%, near a 4-year high Hong Kong’s Hang Seng: +0.5% Japan’s Nikkei: -1% after last week’s...