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 PETRONAS Chemicals rose after a return to profitability in 1Q, though analysts remain cautious on the sustainability of the recovery . Share Price Rises on Earnings Turnaround The stock gained 4.2% to RM5.68 , extending a strong rally of nearly 92% since late February . The rebound was driven by: Higher petrochemical prices Improved product spreads Stronger sales volumes However, these gains were largely supported by supply disruptions linked to Middle East tensions , rather than structural demand recovery. Analysts Divided on Outlook Sentiment remains mixed among research houses: 9 ‘buy’ , 9 ‘hold’ , 1 ‘sell’ recommendation Average target price: RM6.08 (~7% upside) While earnings forecasts have been revised higher, many analysts maintain neutral stances due to lingering risks. Operational and Demand Risks Persist Key concerns highlighted by analysts include: Lower utilisation rates expected in...