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.
RHB Research has revised its earnings forecasts for YTL Power International Bhd for the fiscal years 2025 to 2027, cutting projections by 5% to 6% due to the strengthening ringgit against major currencies such as the US dollar , Singapore dollar , and British pound . These currencies are crucial to PowerSeraya and Wessex Water , which are key contributors to YTL Power's income. As a result, RHB has lowered its target price for YTL Power from RM5.94 to RM5.68 , while maintaining its "buy" call . PowerSeraya and Wessex Water accounted for 68% and 23% of YTL Power's total revenue in FY2024, but their income is expected to be impacted by the stronger ringgit. Additionally, YTL Power's exposure to the US dollar will likely increase with the upcoming commercialization of its artificial intelligence data center (AI-DC) . While colocation services revenue will be in both MYR and USD , AI-DC's costs are expected to be largely in USD. RHB maintained a positi...