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.
Key Takeaway: Cisco's Q1 results beat expectations due to rising demand for networking equipment driven by AI, with the company forecasting strong revenue and profit for the next quarter. Cisco Systems posted stronger-than-expected first-quarter results, benefiting from increased demand for networking gear like ethernet switches and routers, spurred by the AI boom. The company's second-quarter revenue outlook of $13.75 billion to $13.95 billion surpassed Wall Street estimates, reflecting continued growth momentum. While Cisco's networking equipment business has faced challenges from supply chain issues and a slowdown post-pandemic, it is shifting focus to cybersecurity, cloud systems, and AI-driven products . To support this transition, Cisco completed its $28 billion acquisition of Splunk in March, aimed at strengthening its software and cybersecurity capabilities. In Q1, revenue declined by 6% to $13.84 billion but still exceeded the estimated $13.77 billion. The ...