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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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Singapore Introduces Cashless Gaming in Casinos, Excludes Cryptocurrency

 

Singapore will now allow its two casinos, Marina Bay Sands and Resorts World Sentosa, to conduct cashless gaming as part of the latest changes to the Casino Control Act. However, cryptocurrencies will not be permitted for such transactions, according to Minister of State for Home Affairs and Social and Family Development, Sun Xueling.

Key Takeaways:

  1. Introduction of Cashless Betting: The changes enable players to place bets at gaming tables or machines using virtual credits directly from cashless gaming accounts or e-wallets. This move towards cashless transactions aims to modernize the gaming experience while maintaining strict financial controls.

  2. Cryptocurrency Exclusion Due to Money-Laundering Risks: The Gambling Regulatory Authority (GRA) will not allow cryptocurrencies to be used as chips or for gambling, citing money-laundering risks. The decision reflects ongoing concerns about the regulatory challenges and security risks posed by digital currencies.

  3. Strengthened Oversight and Regulatory Alignment: Singapore has also lowered the threshold for cash deposit checks in casinos to prevent misuse by terrorist and criminal organizations. Additionally, the authority to approve main shareholders of casino operators has been transferred to the Minister for Home Affairs, K Shanmugam, to better align the integrated resorts with government objectives.

These changes highlight Singapore’s efforts to modernize its casino industry while maintaining stringent oversight and security standards.

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