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.
Sales of Mazda and Kia vehicles are anticipated to rise in the coming months, despite a weaker-than-expected first quarter for Bermaz Auto Bhd (KL ) . Analysts remain optimistic, noting the company's above-average dividend yield of 10% and a proposed investment in EP Manufacturing Bhd (KL ) as positive factors. Bermaz Auto's net profit for the first quarter ended July 31, 2024 (1QFY2025), represented only about 23% of the consensus full-year estimate. However, RHB Investment Bank (RHB IB) maintains a 'buy' call on the stock, highlighting that the first quarter is typically a weaker period for the company. The decline in sales was partly attributed to a higher base of comparison from the previous year, driven by significant shipments of Mazda 3, Mazda 6, and imported CX-3 vehicles to clear backlogged orders during the Covid-19 pandemic. Looking ahead, Bermaz Auto's sales are expected to be primarily supported by its volume-heavy, locally assembled Mazda models, ...