KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Heineken NV will eliminate 5,000 to 6,000 jobs over the next two years as the world’s second-largest brewer battles declining beer consumption in key markets. Why the Cuts? Total volumes fell 1.2% in 2025 Weak demand in US and Europe Consumers cutting alcohol intake for: Health reasons Cost-of-living pressures Heineken, which produces brands such as Tecate and Amstel , said the job reductions are part of a broader cost-cutting effort . The restructuring reflects structural shifts in drinking habits, not just cyclical weakness. Industry Pressure Mounting Brewers globally are facing: A long-term trend toward lower alcohol consumption Growth in non-alcoholic alternatives Inflation squeezing discretionary spending For Heineken, this comes amid a leadership transition. CEO Dolf van den Brink recently announced he will step down after six years in the role. Market Takeaway Cost discipline becomes central as volume growth ...