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.
Malaysia is set to leverage its 40-year experience in automotive production and a robust semiconductor sector to position itself as a regional hub for electric vehicle (EV) manufacturing in Asean , Deputy Minister of Investment, Trade, and Industry Liew Chin Tong announced. Highlighting Malaysia's significance as the sixth-largest exporter of semiconductor products , Liew emphasized the strategic potential of integrating the automotive and semiconductor industries to create locally designed automotive chips. During his recent visit to Detroit, he noted how global automotive manufacturing was impacted when Malaysia’s semiconductor production slowed during the pandemic, underscoring Malaysia’s vital role in global chip supply. The government’s ambitious EV adoption targets aim for EVs to constitute 20% of total industry volume (TIV) by 2030 , 50% by 2040 , and 80% by 2050 . Liew encouraged manufacturers to see electrification as both a business opportunity and a national agend...