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.
Key Takeaway: Johor Plantations Bhd’s shares climbed 6.4% following robust third-quarter earnings, prompting analysts to raise forecasts amid higher crude palm oil (CPO) prices. KUALA LUMPUR (Nov 14): Shares of Johor Plantations Bhd surged to RM1.33 in morning trades before settling at RM1.28, after the company’s better-than-expected 3Q results. The stock has rallied over 50% since its IPO in July, benefiting from rising CPO prices and increased production. Analysts revised their outlook, as net profit from January to September exceeded 80% of full-year estimates , with expectations of continued strength into the final quarter, driven by higher product prices and above-average growth in output . RHB Investment Bank noted that Johor Plantations’ valuation remains attractive, trading at nearly 12 times forward earnings , a midpoint among its peers. Highlights: Price Target: The stock has a consensus 12-month target price of RM1.54 , implying a 21% potential return . CPO Sensitivity:...