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.
Walt Disney Co has announced another round of corporate-level job cuts as part of ongoing efforts to improve profitability. In a statement on Wednesday, Disney said it had been reviewing its cost structure and identified ways for certain corporate functions to operate more efficiently. This latest round of layoffs reportedly affects about 300 employees in departments such as legal, human resources, finance, and communications , according to Deadline . However, divisions like ESPN and theme parks were not impacted in this wave. Disney began cost-cutting measures last year, which included eliminating 8,000 positions . Like other media giants such as Paramount Global and Warner Bros Discovery Inc , Disney has been grappling with the shift away from traditional TV toward the growing popularity of streaming services .o