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.
The European Union is set to vote on Oct. 4 on whether to impose tariffs as high as 45% on electric vehicles (EVs) imported from China . This decision follows a European Commission investigation that found China unfairly subsidizes its EV industry , putting European manufacturers at a disadvantage. The proposed tariffs would add to the existing 10% duty , potentially increasing total tariffs on Chinese EVs to 35% starting in November for the next five years, unless a qualified majority of member states—representing 65% of the EU's population —opposes the move. The European Commission has been negotiating with Beijing in hopes of finding a resolution to avoid the tariffs, but talks may continue even after the vote. China denies the subsidy accusations and has threatened retaliatory tariffs on European goods such as dairy, brandy, pork , and large-engine cars . Major member states, including Germany and Spain , have expressed concern that the tariffs could lead to a trade war...