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.
Inflation in Tokyo accelerated in August, strengthening the argument for the Bank of Japan (BOJ) to continue its gradual interest rate hikes while balancing support for the economy. Consumer prices, excluding fresh food, rose by 2.4% compared to 2.2% in July, exceeding the consensus estimate of 2.2%, according to the Ministry of Internal Affairs. These Tokyo figures are considered leading indicators for national inflation data expected in September. Key Takeaways: Potential for Further Rate Hikes : Following the BOJ’s rate hike on July 31, Governor Kazuo Ueda signaled openness to additional hikes if inflation trends align with the bank's projections. However, Ueda has also expressed caution, indicating that the BOJ will carefully assess the impact of financial market instability before making further policy moves. Mixed Economic Indicators : Additional data showed a mixed economic picture, with Japan's jobless rate increasing to 2.7% and factory output rising by 2.8% in July, t...