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.
Nike Stock Could See 19% Upside on Turnaround, J.P. Morgan Says Upgrade: J.P. Morgan upgraded $Nike (NKE.US)$ to Overweight from Neutral and raised its price target to $93 (from $64). Current price: $78.37 premarket; target implies ~ 19% upside . Key driver: Analysts led by Matthew Boss see Nike on a “multiyear recovery path” as it aggressively clears excess inventory and reduces discounting by 1H2026. Highlights: Inventory cleanup: Ongoing liquidation via Factory stores and partners to rebalance supply-demand. Holiday orders: Management noted Y/Y improvement, signaling momentum. Recent earnings: Q4 sales -12% Y/Y but beat expectations; positive guidance boosted shares ~27% since June 26. Strategic outlook: Focus on scaling Performance product pipeline and rebuilding wholesale order books. Long-term: Boss projects Nike could return to pre-pandemic profitability beyond 2028. 📌 Quote from the report: “Nik...