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.
As a crucial vote on European Union (EU) duties on China-made electric vehicles (EVs) approaches, Beijing has employed a calculated carrot-and-stick strategy toward the 27-member bloc, threatening trade retaliation while simultaneously engaging key EU states in one-on-one negotiations over deals and investments. The potential counter-tariffs could hit EU nations like Spain, France, and Italy —which have supported the proposed EV duties—particularly hard, with key exports such as pork, dairy, and brandy to the world's second-largest economy at risk. In contrast, EU members like Germany, Finland, and Sweden that have not pushed for the tariffs would face less impact, as they have limited exposure to these export categories targeted by China. China’s strategy seems to be gaining traction. Spanish Prime Minister Pedro Sanchez recently concluded a visit to China, where he was photographed in a Chinese EV, calling the experience an “honor.” Following his visit, Sanchez unexpectedly ca...