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.
Analysts have reduced earnings forecasts for VS Industry Bhd (KL ) , anticipating that the strengthening ringgit against the US dollar will negatively affect its revenue for the financial year ending July 31, 2025 (FY2025) . The company's significant reliance on US dollar-denominated sales , which account for around two-thirds of its total revenue, is expected to suffer due to adverse foreign exchange (forex) pressures . In a Thursday note, Maybank slashed its earnings projections for VS Industry by 12% for FY2025 , 19% for FY2026 , and 21% for FY2027 , citing more conservative assumptions due to forex challenges. The stronger ringgit is expected to reduce revenue, with Maybank estimating that a 10% rise in the ringgit could cut revenue by approximately 7% to 10%, leading to margin compression . Additionally, Maybank noted that slower growth for key customers , alongside export challenges, would further weigh on the company’s performance. Although some forex costs may be passed ...