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.
Samsung Electronics , the world’s leading maker of smartphones, TVs, and memory chips, plans to cut up to 30% of its overseas staff in certain divisions, according to three sources with direct knowledge of the matter, as reported by Reuters. South Korea-based Samsung has instructed its subsidiaries worldwide to reduce sales and marketing staff by approximately 15% and administrative staff by up to 30% , according to two of the sources. This reduction will be implemented by the end of this year and will affect jobs across the Americas, Europe, Asia, and Africa . While it is unclear how many employees will be affected and which specific countries and business units will experience the most significant impact, six additional people familiar with the matter confirmed Samsung’s plan for a global reduction in headcount. The sources, who requested anonymity due to the confidential nature of the information, indicated that the scope and details of the job cuts have not been fully di...