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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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California Advances Controversial AI Safety Bill Amid Divided Opinions

 

California's state Assembly has passed the AI safety bill SB 1047, which mandates companies to ensure their AI technologies do not cause significant harm. The bill, which received 41 votes in favor and nine against, now heads back to the state Senate for confirmation before reaching Governor Gavin Newsom's desk.

Key Provisions and Controversies:

  1. AI Safety Requirements: The bill requires companies developing powerful AI models to take "reasonable care" to prevent "severe harm," such as mass casualties or property damage over US$500 million. It mandates measures like implementing a kill switch and submitting models to third-party testing.

  2. Mixed Reactions: The bill has sparked debate, with some tech leaders and companies like OpenAI opposing it, arguing it represents government overreach and could stifle innovation. However, others, including Elon Musk and AI firm Anthropic, have shown cautious support, acknowledging the need for safety measures.

  3. State vs. Federal Regulation: Critics argue that such regulations should be implemented at the federal level, fearing that state-specific laws could hinder California's leadership in AI innovation. Supporters, however, believe California must take the lead in the absence of federal action, with the bill focusing on larger companies and exempting smaller startups.

The outcome of SB 1047 now hinges on further amendments and the decision of Governor Newsom, with significant lobbying efforts from both supporters and opponents of the bill.

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