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.
Earnings from Japan’s Fast Retailing Co., Ltd. , the owner of Uniqlo , and Seven & i Holdings Co., Ltd. , which operates 7-Eleven , are set to show how these retailers are pursuing international growth to offset weak domestic consumer demand. Seven & i is facing challenges with its operating income , largely due to weak consumer sentiment in Japan. However, the spotlight remains on the $38.7 billion takeover approach by Alimentation Couche-Tard Inc. , which could lead to a restructuring of Seven & i’s business, including the potential sale of subsidiaries or assets. The company has been exploring the sale of part of its stake in Seven Bank Ltd. and has approached buyers for its retail and supermarket units. On the other hand, Uniqlo's owner Fast Retailing is likely to report steady profit growth, primarily driven by strong international business . Uniqlo’s hot-weather clothing has performed well, with robust summer demand , according to Bloomberg Intelligence a...