KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Summary PepsiCo is planning price cuts of up to 15% on popular snacks like Lay’s, Doritos and Flamin’ Hot Cheetos , responding to growing consumer frustration over high food prices. The move signals a broader shift among big food brands as shoppers trade down to cheaper alternatives. What’s Driving the Decision Consumers pushed back hard : PepsiCo received a surge of emails and voicemails complaining snack prices were too high Snack inflation has been steep : Salty snack prices were ~38% higher in 2024 vs 2020 , according to Jefferies Sales momentum slowed as shoppers increasingly chose private-label brands “ Consumers told us they need more value ,” said Rachel Ferdinando, CEO of PepsiCo’s US food business. What Prices May Look Like Lay’s 8oz bag : from US$4.99 → ~US$4.29 Doritos ~9.25oz bag : price cut by ~80 cents to US$5.49 Same pack size , but clearly marketed as lower price (Retailers set final prices, but PepsiCo expects...