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 Takeaways: Gold's Winning Streak : Gold is set for its third consecutive week of gains, bolstered by rising geopolitical tensions, economic uncertainties, and expectations of U.S. interest rate cuts. After hitting a record high of US$3,057.21 per ounce on Thursday, gold is up by about 2% this week. Fed Rate Cut Hopes : The Federal Reserve's recent decision to hold rates steady at 4.25%-4.5% has fueled expectations of two rate cuts by year-end. This dovish stance, combined with concerns about economic growth and inflationary pressures linked to trade policies, has strengthened gold’s appeal as a safe-haven asset. Geopolitical Tensions : Alongside economic concerns, rising geopolitical instability, particularly in the Middle East, has driven further demand for gold. The conflict in Gaza, escalating tensions, and the broader global uncertainty have added to gold's allure as a protective asset. Market Analyst Views : Market analyst Kyle Rodda noted that gold has strong fu...