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.
Market Overview: After months of volatility and macro uncertainty, the S&P 500 and Nasdaq have surged to record highs. Tech giants, known as the Magnificent Seven — Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta, and Tesla — have fueled the rally, adding over $4.7 trillion in market cap since April lows. Sector Breakdown: Tech & Communication Services: Up 41% and 28% respectively since April. Cyclical Strength: Industrials (+27%), Financials (+19%), and Materials (+19%) also contributed, suggesting parts of the rally are broad-based. Market Breadth Mixed: NYSE Advance-Decline line hit new highs, suggesting positive breadth. Only 50% of S&P 500 stocks trade above their 200-day moving averages — traditionally healthy markets show 65%-80% . Equal-weight S&P 500 rose 18.7% vs. 24% for market-cap weighted, indicating concentrated gains. Macro Tailwinds: Fed rate cuts expected by year-end could boost rate-sens...