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.
European auto shares tumbled Monday even after the U.S. and European Union agreed on a new trade framework that slashes threatened tariffs on EU goods. The deal, announced Sunday in Scotland, reduces import duties on European automobiles from a potential 30% to 15% . While the cut avoids a full-scale trade war, the market response was anything but celebratory. Auto Stocks Take a Hit Volkswagen (VWAGY) dropped 2.9% BMW slid 3.2% Mercedes-Benz (MBGYY) fell 2.4% U.S.-listed Stellantis (STLA) sank 5.3% Ford (F) and GM (GM) eased 1.1% and 0.3%, respectively The declines came despite European industry leaders calling the agreement a “relief.” German Automotive Association President Hildegard Müller said the framework prevented “further escalation” but warned the 15% levy would still cost German automakers billions annually . Investor Sentiment: Relief or Reality Check? The muted market reaction suggests investors were hoping for more...