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.
Shares of Foot Locker Inc fell sharply after the company slashed its full-year sales and profit forecasts, citing increased discounting and reduced consumer spending ahead of the critical holiday season. Weaker Consumer Spending and Sales Shortfall Foot Locker’s CEO Mary Dillon noted that U.S. shoppers have become more selective, seeking better deals, which weighed on the company’s performance and undermined its turnaround efforts. “The consumer is being choosy, picky, and smart, trying to find the best deals they can find,” Dillon said in an interview, adding that the increasingly promotional environment has prompted a more cautious outlook. Key highlights: Comparable Store Sales: Rose 2.4% in Q3, below analyst expectations of 2.8%. Full-Year Sales Forecast: Anticipates a decline of up to 1.5%, a 0.5 percentage point downgrade from prior guidance. Earnings per Share Guidance: Lowered to $1.20-$1.30 from a previous high of $1.70 . Market Reaction The company's shares plunged ...