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.
Walmart has sold its entire stake in the Chinese e-commerce giant JD.com, valued at $3.74 billion, as part of a strategic shift to concentrate on its own operations in China, particularly its warehouse chain, Sam’s Club. This move ends an eight-year investment partnership that began in 2016 when Walmart first acquired a stake in JD.com in exchange for selling its Chinese online grocery store, Yihaodian. Key Takeaways: Strategic Refocus on China Operations : Walmart’s decision to exit its investment in JD.com reflects a broader strategy to refocus on its core operations in China, particularly its Sam’s Club warehouse chain, which has shown strong growth. In the latest quarter, Walmart reported a 17.7% year-on-year revenue increase from its China business, driven by the success of Sam’s Club and its digital offerings. The sale of its JD.com stake allows Walmart to reallocate capital towards expanding these operations. Challenging E-commerce Market in China : The sale underscores the decl...