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.
Australia's leading supermarket chains, Woolworths and Coles, are expected to report earnings that reflect the challenging economic environment of fiscal year 2024, as consumers grapple with high mortgage rates and persistent inflation. These factors have led to cautious consumer spending, which is likely to impact the financial performance of these retail giants. Key Takeaways: Economic Headwinds : The Australian economy is experiencing decade-high interest rates and inflation that remains above the central bank’s target range. These economic pressures are prompting consumers to tighten their spending, particularly on groceries, which is a significant revenue stream for Woolworths and Coles. Consumer Behavior Shifts : Analysts have observed that consumers are increasingly trading down to lower-priced items and opting for more at-home consumption as a way to manage their budgets. This shift in consumer behavior is expected to be reflected in the earnings of both supermarket chain...