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.
Levi Strauss announced on Wednesday that it is considering a sale of its underperforming Dockers brand , prompting its shares to fall 10% in extended trading . The move comes as the company seeks to focus on growing its core Levi's brand and its activewear line, Beyond Yoga . "We are narrowing our focus to realise the full potential of the Levi's brand and accelerate Beyond Yoga. As a result, we are evaluating strategic alternatives for the Dockers business," said CEO Michelle Gass during the post-earnings call. The company has retained Bank of America as its financial adviser for the strategic review of Dockers, which saw a 15% decline in sales in the third quarter. Dockers contributed about 5% to Levi’s total quarterly revenue of US$1.52 billion , which missed analysts' estimates of US$1.55 billion . Despite the underperformance of Dockers, Levi’s direct-to-consumer channel saw 10% growth , driven by strong demand for women's denim clothing. Levi expe...