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.
Deflationary pressure in China, which has already pushed down prices of cars and fast food, is now reshaping the country’s US$38 billion medical aesthetics market . So-Young Pushes Prices to Record Lows So-Young International Inc has launched 33 clinics across major cities, offering chemical peels for 149 yuan (US$21) and skin boosters for 399 yuan. The company says there is further room to cut costs, moving closer to South Korea — the benchmark for affordable cosmetic treatments. Average spending per customer at So-Young clinics is about 2,000 yuan, far below the sector average of 6,500 yuan, according to CEO Xing Jin. “As prices approach Korean levels, convenience will keep more consumers at home for treatments,” he said. Rising Competition from E-Commerce Players The push could ignite a broader price war. JD.com Inc has already opened two cosmetic clinics in Beijing, undercutting rivals on certain procedures. Internet platforms such as Meituan and Douyin are also expanding into...