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.
The Total Industry Volume (TIV) for Malaysia in September 2024 dropped by 15% to 58,032 units compared to 68,174 units in September 2023, according to the Malaysian Automotive Association (MAA) . Despite this drop, the year-to-date (YTD) TIV for 2024 showed a 4% increase , reaching 594,037 units , up from 571,957 units in the same period in 2023. The shorter working month in September, along with a wait-and-see approach by consumers ahead of the National Budget 2025 , contributed to the slowdown in sales. On a month-on-month basis, September's TIV was 20% lower than August's 72,367 units . The number of passenger vehicles sold in September 2024 fell 14% year-on-year to 52,922 units , while commercial vehicles sales dropped 23% to 5,110 units . However, YTD passenger vehicle sales increased by 6% , whereas commercial vehicle sales saw a 15% decline . In terms of production , the number of vehicles produced in September 2024 fell by 20% to 55,383 units compare...