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.
Key Highlights : Microsoft's Write-Down : $800 million impairment announced by Microsoft (MSFT.US) , marking a 40% loss on its $2 billion investment in General Motors' (GM) Cruise unit, initially valued at $30 billion. The write-down reflects Cruise's decline after losing its California robotaxi license in October 2023 , following a high-profile incident involving a pedestrian. GM's Strategic Shift : Cruise operations to merge with GM's driver assistance division, ending its run as a standalone entity. GM owns approximately 90% of Cruise , but its exact financial hit is unclear due to varying investment levels since 2016. Impact on Stocks : GM : Shares fell 1.3% following the news, reflecting investor concerns about the failed robotaxi strategy. Microsoft : Shares were up 1.28% despite the write-down, as the company’s overall business remains robust. Tesla and Alphabet : Tesla (TSLA.US) surged 5.9% , hitting a...