KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Key Takeaway: ANZ Group Holdings Ltd will slash about 3,500 jobs by September 2026 as part of CEO Nuno Matos’ restructuring drive, aimed at restoring regulatory trust, improving culture, and tightening risk management. Workforce Reduction Job cuts: ~3,500 employees, equal to 8% of ANZ’s 42,000 staff Contractors: Around 1,000 consultants and third-party roles to be reduced Restructuring charge: Estimated at A$560 million (US$369 million / RM1.56 billion) before tax, booked in H2 2025 The first wave of cuts has already started, targeting middle- and back-office roles in ANZ’s institutional banking division. CEO’s Strategy Matos, who took over in May 2025 from Shayne Elliott, is moving quickly to revamp the bank: Cultural reset: Focus on stopping non-priority work and improving risk management. Leadership changes: Senior exits include ex-retail chief Maile Carnegie...