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.
JPMorgan Chase has begun its first round of job cuts for 2025, affecting fewer than 1,000 employees in February , according to sources familiar with the matter. Despite record annual profits in 2024 , the bank is planning additional layoffs later this year as part of routine business management. 💼 Key Layoff Details 🔹 Fewer than 1,000 employees to be laid off in February 🔹 Further job reductions expected later in 2025 🔹 JPMorgan still has 14,000 open positions , with hiring continuing in certain areas 💬 JPMorgan spokesperson: "These reductions are part of our regular business management. We continue to hire and work hard to redeploy impacted employees." 📌 Why It Matters: Despite strong profits and economic optimism , JPMorgan is streamlining operations to stay competitive in an evolving market. 📈 Banking Sector Outlook: Profits Soar, Uncertainty Lingers 📌 JPMorgan reported its highest-ever annua...