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.
Volkswagen CEO Oliver Blume clashed with labour leaders during a heated staff meeting at the company’s Wolfsburg headquarters on Wednesday. The meeting, attended by around 20,000 workers and German Labour Minister Hubertus Heil , highlighted growing tensions over management’s push for cost-cutting measures amid escalating competition, particularly from China. The Dispute Blume called for urgent action to address price pressures and rising competition, emphasizing that plant closures and wage reductions are necessary to secure Volkswagen's future in Germany. "The current situation is serious. New competitors are entering the market with unprecedented force. The price pressure is immense," Blume said, citing challenges in China , the company’s largest and most profitable market, where Volkswagen has recently lost ground. However, union leaders and workers see these proposals as red lines and have threatened further strikes if closures remain part of wage negotiations. Wo...