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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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FTC Report: Social Media Users Lack Control Over Data Used by AI

 

The US Federal Trade Commission (FTC) released a report on Thursday criticizing social media companies for their inadequate data management practices and the lack of transparency regarding how user data is used by artificial intelligence systems. The report highlights major platforms like Meta, TikTok, and Twitch, among others, revealing how they collect, share, and retain vast amounts of user information with minimal user control.

The report found that the data management policies of these companies, including YouTube, X (formerly Twitter), Snap, Discord, and Reddit, are insufficient to protect users' privacy. Although specific companies' practices were anonymized, the FTC emphasized that data tracking technologies used for online advertising and data purchased from brokers create privacy risks that could lead to harms like identity theft and stalking.

FTC Chair Lina Khan criticized the companies' reliance on surveillance practices, noting that these strategies endanger privacy while being lucrative for businesses. The report comes at a time when the US Congress is debating legislation aimed at protecting children and teens from social media harms, while companies like Meta have already introduced enhanced parental controls for younger users.

Additionally, the FTC flagged that Big Tech firms are increasingly acquiring private data to train AI technologies, often without disclosing these data deals to users. This lack of transparency extends to how social media platforms collect data on non-users and users' personal attributes, such as age, gender, income, and family status.

In response, advertising industry groups, including the Interactive Advertising Bureau, criticized the report, defending the ad-supported services provided by social media platforms and disputing the FTC's characterization of the industry as engaging in "mass commercial surveillance."

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