KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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 ...