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.
China’s effort to cool down the electric vehicle (EV) price war is seeing little success, as major automakers continue offering steep discounts to lure buyers in an overcrowded and cautious market. Discounts Remain Widespread All of China’s top 20 auto brands either maintained, deepened, or only slightly reduced discounts in July, according to China Auto Market data. Seven brands increased promotions despite Beijing’s June warning against “rat-race competition.” Overall promotions in July were higher than a year earlier , showing muted response to government pressure. Why It’s Hard to Control Prices Analysts note that carmakers are unlikely to slash sticker prices directly, but will continue offering indirect perks , such as: Interest-free financing Complimentary home chargers Cabin upgrades (premium seats, connectivity perks) Average sale prices keep drifting lower as buyers favor cheaper models: BYD: 114,760 yuan (July) vs 116,200 yuan (...