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.
Major US travel companies, including Marriott International , Booking Holdings , and Vail Resorts , are preparing for a challenging 2025 by trimming budgets and workforce in response to reduced demand from lower-income travelers and slowing top-line growth . Marriott plans to cut US$80-90 million in annual costs and lay off 800 corporate employees in Q1 2025 . The move aims to create a "leaner and more efficient" operation, following weak earnings this year. Booking.com has slowed hiring, increasing its workforce by just 3% in 2024, compared to 13% the previous year, and may cut jobs further. Vail Resorts aims for US$100 million in annual savings by 2026 , including a 14% reduction in corporate staff. Norwegian Cruise Line Holdings is targeting US$300 million in cost savings by 2026 through automation an...