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.
Brazil’s wildfires and drought, which have disrupted the global sugar market , are putting increased pressure on Thailand and India to fill the supply gap. However, both countries are facing their own challenges, raising concerns about further instability in the market. The recent spike in sugar futures , reaching the highest levels since February, reflects fears over crop damage in Brazil, the world’s top sugar producer and exporter. This disruption is pushing up costs for consumer goods, such as soft drinks and candy, while traders are now focused on the output prospects of Thailand and India, both major sugar producers. While Thailand, the world’s second-largest sugar exporter, is expected to see a rebound in sugar production in the 2024-25 season, September floods have highlighted the weather risks that could delay the harvest if heavy rains persist. In India, the second-largest sugar grower, government support for ethanol production means sugar export restrictions are like...