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.
Starbucks baristas represented by the Workers United union began a five-day strike in Los Angeles, Chicago, and Seattle on Friday, citing unresolved disputes over wages, staffing, and schedules. The action involves over 10,000 workers and comes amidst rising labor activism in the service industry. Key Issues and Background Labor Actions Surge: This strike follows a year of significant labor movements, with industries like automotive, aerospace, and rail seeing notable concessions won by workers. In 2023, there were 33 work stoppages , the highest since 2000. Negotiations Stalled: Talks between Starbucks and Workers United began in April , but the union claims the company has yet to propose a serious economic offer with just two weeks left before the year-end contract deadline. Starbucks insists it has reached agreements on over 30 topics in nine bargaining sessions. Union Demands: The union is pushing fo...