KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Ikea is shifting its strategy in China by experimenting with smaller retail formats to attract more cautious shoppers, as the country faces an economic slowdown and increased competition. Known for its large big-box stores , the Swedish furniture giant is adapting to the changing retail landscape by adding more compact outlets across China. “We have learned a lot about how to meet customers,” said Sara Del Fabbro , deputy retail manager of Ingka Group , Ikea’s largest franchisee. She emphasized that despite shrinking wallets, the demand for home furnishing remains strong. While no specific timeline was provided, Ikea has already begun testing smaller store formats in Xi’an and Shenzhen . The new format, such as the 300-square-meter Plan and Order Point in Shenzhen, offers personalized advice for complex orders like kitchens. This format is just one-tenth the size of traditional Ikea stores, reflecting the company's efforts to provide more accessible shopping experiences in an...