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.
Swedish battery manufacturer Northvolt is in talks to sell its industrial battery division, Northvolt Systems Industrial, by year-end, as it seeks to address a severe funding shortfall. An internal memo reveals the company has been negotiating with a large industrial buyer for two months and is aiming to finalize a deal in the coming weeks. The sale marks a critical shift for Northvolt, which is restructuring to focus on battery cell production , stepping away from its ambition to be an all-encompassing EV battery manufacturer and recycler. Background and Financial Challenges Chapter 11 Filing: Northvolt filed for US Chapter 11 protection on Nov 21 after failing to secure $1.2 billion in long-term funding from stakeholders. Profitable Operations at Risk: The industrial battery division, one of the few profitable parts of Northvolt’s portfolio, manufactures batteries for heavy machinery like forklifts and drill rigs. Clients: Major customers include Swedish mining equipment maker ...