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.
Nike's new CEO, Elliott Hill , has laid out a bold plan to reposition the iconic brand after reporting second-quarter earnings that beat analyst estimates but revealed declining revenues and profits . Key Financial Highlights Revenue : $12.35 billion (beat analyst estimate of $12.13 billion). Earnings Per Share : $0.78 (beat estimate of $0.65). Revenue Breakdown : Nike Direct : $5 billion, down 13% YoY . Nike Brand : $12 billion, down 7% YoY . CEO's Observations and Strategic Shift 1. Excess Inventory and Promotions Hill criticized past strategies, blaming over-reliance on promotions for hurting margins. Plan to use Nike Value Stores to clear excess inventory and limit promotions to traditional retail moments . "We’ll build back an integrated marketplace across Nike Direct and Wholesale ," Hill said. 2. Reinvesting in Brand and Sport Acknowledged that Nike shifted away from its core focus on ...