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 withdrew its annual revenue forecast on Tuesday, just as a new CEO is set to take the helm at the sportswear giant, which is facing a holiday season likely to be filled with discounts and weak traffic on its website and mobile apps . This announcement caused Nike's shares to tumble 6% in after-market trading . Earlier in the day, the company's stock had fluctuated after it reported disappointing quarterly sales growth , although it did manage to beat Wall Street's profit expectations. Adding to the concerns, Nike has also postponed its investor day , originally scheduled for Nov 19. Traffic declines across Nike's own stores and websites were more significant than expected, leading to inventory backlogs , according to Nike CFO Matthew Friend during a post-earnings call. Notably, outgoing CEO John Donahoe did not attend the call. Friend further mentioned that sales dipped despite offering higher promotions through both wholesale and retail partners . Recently, Ni...