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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Tesla Recalls Over 1.8 Million US Vehicles Over Unlatched Hood Issue

 

Tesla is recalling over 1.8 million vehicles in the US due to a software failure that may not detect an unlatched hood, according to the National Highway Traffic Safety Administration (NHTSA). An unlatched hood could fully open and obstruct the driver's view, increasing the risk of a crash.

Tesla has begun rolling out an over-the-air software update to address the issue, which will detect an open hood and alert drivers. The recall affects certain 2021-2024 Model 3, Model S, Model X, and 2020-2024 Model Y vehicles, all equipped with a hood latch produced in China by Magna Closures Co Ltd.

The company started investigating customer complaints of unprompted hood openings in certain Model 3 and Model Y vehicles in China in March. Although fewer incidents were reported in Europe and North America, Tesla initiated engineering studies in these regions last month and decided to issue a recall.

This recall is Tesla's largest since December last year, when it recalled 2.03 million US vehicles to install new safeguards in its Autopilot system. Following reports of 20 crashes involving vehicles with the new Autopilot update, the NHTSA has opened a probe citing "several concerns."

Tesla recently posted its worst quarterly profit margin in over five years, highlighting the company's struggle to boost auto sales amid slowing demand.

Key Takeaways:

  • Tesla is recalling over 1.8 million vehicles in the US due to an unlatched hood issue.
  • An unlatched hood can obstruct the driver's view, increasing crash risk.
  • Affected models include 2021-2024 Model 3, Model S, Model X, and 2020-2024 Model Y.
  • Tesla is rolling out a software update to fix the detection issue.
  • The recall follows previous large-scale recalls, including a significant Autopilot system update last year.
  • The NHTSA is probing Tesla's Autopilot system following crash reports.
  • Tesla recently reported its lowest quarterly profit margin in over five years.
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