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.
Profit Miss Sparks Downgrades Poh Huat Resources Holdings Bhd (KL:POHUAT) saw its stock tumble on Friday after reporting quarterly results that fell short of market expectations. Net profit for the nine months ended July 31 came in at just about half of analysts’ full-year forecasts. The shortfall prompted TA Securities to downgrade the counter to sell , while Public Investment Bank ceased coverage altogether. Tariff Pressures Weigh on Outlook The weaker performance comes amid uncertainty in the US furniture market , Poh Huat’s key export destination. Analysts flagged the ongoing US government investigation into furniture imports , which could worsen existing reciprocal tariffs already affecting demand. “Furniture exports to the US are already under tariff pressure, and demand is expected to stay subdued,” TA Securities said. Stock Performance Shares of Poh Huat fell as much as 6% to 94 sen , giving the company a market value o...