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.
Online used-car retailer Carvana (CVNA) is set to report its second-quarter earnings Wednesday, and analysts see plenty of momentum behind the company’s winning streak. Analyst Expectations Revenue: $4.58 billion (+34% YoY) Earnings per share: $1.17 (vs. $0.37 a year ago) Retail unit sales: Expected to jump 40% YoY after a 46% surge in Q1 Carvana’s stock has climbed 65% year-to-date and over 160% in the past year , closing at $337 on Wednesday. Tariffs Could Play in Carvana’s Favor With President Trump imposing 25% tariffs on imported cars and used car parts , analysts say the price gap between new and used vehicles may work to Carvana’s advantage. Used cars currently average $25,512 , compared to $48,907 for new vehicles, according to Kelley Blue Book. Analyst Views J.P. Morgan: Rates Carvana Overweight , citing its transformation into a “more profitable and nimble operator” with...