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.
Volkswagen has entered tense pay negotiations with its powerful trade unions under the looming threat of factory closures in Germany, a potential first for Europe’s largest automaker. The discussions, which began Wednesday, could shape the company’s approach to layoffs and cost-cutting measures as it grapples with rising energy and labor costs . The talks are set against a backdrop of high tensions, as the IG Metall union , representing a significant portion of Volkswagen’s workforce, has vowed to resist any attempts at plant closures . These negotiations will also determine new labor agreements for 130,000 VW workers in Germany after the company recently ended employment guarantees at six of its western German plants, which had been in place since the mid-1990s. Volkswagen argues that high operating costs in Germany are hampering its ability to compete, especially with Chinese rivals aggressively targeting the electric vehicle (EV) market in Europe. Arne Meiswinkel, Volkswagen...