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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 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.
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Ford Investing US$3 Billion to Boost Truck Production After EV Delay

Ford Motor Co will invest US$3 billion (RM14 billion) to build its highly profitable Super Duty F-Series pickup truck at a plant in Ontario, Canada, shifting focus after previously delaying plans for an electric sport utility vehicle (SUV).

Key Points:

  • Investment and Production:

    • Ford will open the plant in 2026, employing 1,800 workers and adding 100,000 units of Super Duty production.
    • The automaker is on pace to produce about 400,000 Super Duty trucks annually.

  • Market Changes:

    • Slowing growth in electric vehicle (EV) demand led Ford to delay a three-row plug-in model until 2027.
    • Increased demand for large trucks prompted the shift in focus to meet market needs.

  • Statements:

    • “Super Duty is a vital tool for businesses and people around the world and, even with our Kentucky Truck Plant and Ohio Assembly Plant running flat out, we can’t meet the demand,” said CEO Jim Farley.
    • Ford hinted at future electrified versions of the Super Duty, potentially including hybrid-electric vehicles suitable for towing.

  • Stock Market Reaction:

    • Ford shares were little changed in premarket trading in New York.

  • Background on EV Market:

    • In April, Ford delayed production of a big electric SUV to allow the market for three-row EVs to develop further.
    • EV sales in the US grew 11% last quarter to a record 330,000, but the pace has slowed due to high prices and limited charging infrastructure.

  • Industry Context:

    • General Motors Co also delayed the opening of a plant near Detroit for electric pickup trucks.
    • Despite EV growth, inventory turnover is slower than for conventional models; US dealerships sold 24% of their EV inventory in the past 30 days, compared to 38% for other models.

Ford’s investment in boosting truck production highlights the company’s response to changing market demands and the current state of the EV market.

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