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.
Under Armour Inc’s stock jumped by as much as 31% on Thursday after reporting better-than-expected sales and earnings for the second quarter, fueling optimism in the sportswear brand’s turnaround led by founder Kevin Plank. The company now projects a fiscal year operating loss of up to US$196 million, improved from a previous forecast of US$240 million. Plank, who resumed his role as CEO in April, is restructuring Under Armour’s operating model and supply chain to drive savings. Despite a sixth consecutive quarter of declining revenue, this performance signals potential momentum in the company’s recovery. Restructuring costs have reached US$40 million, with total charges expected to hit US$160 million due to decisions like closing a California distribution center. Regarding potential tariffs under President-elect Donald Trump, CFO Dave Bergman indicated that Under Armour doesn’t foresee significant impacts but remains vigilant. With new tariffs a key topic among companies, U...