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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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California Passes Laws to Protect Entertainers from AI Use

California Governor Gavin Newsom signed two new bills into law on Tuesday aimed at protecting actors and performers from the unauthorized use of their digital replicas in audio and visual productions involving artificial intelligence (AI).

While AI's role in the entertainment industry dates back several decades, recent advances in generative AI — with robots even creating music as digital pop stars — have sparked significant debate and concern. Performers fear that AI will make theft of their likenesses commonplace, and many experts have raised legal and ethical questions surrounding its use.

Details of the Legislation

One of the new laws "requires contracts to specify the use of AI-generated digital replicas of a performer's voice or likeness, and the performer must be professionally represented in negotiating the contract," according to a statement from Newsom's office.

The second bill "prohibits the commercial use of digital replicas of deceased performers in films, TV shows, video games, audiobooks, sound recordings, and more, without obtaining consent from those performers' estates," the statement added.

Broader Concerns Around AI

Beyond the entertainment sector, the rise of AI has led to a host of concerns, including fears that it could be used to undermine democratic processes, facilitate fraud, or cause job losses.

While Democratic US President Joe Biden's administration has called for AI regulation, a polarized US Congress — with Republicans controlling the House of Representatives and Democrats controlling the Senate — has struggled to make significant progress in passing effective legislation.

Earlier this year, Tennessee Governor Bill Lee signed a similar bill into law to protect artists, including musicians, from unauthorized use by AI.

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