KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
TikTok Inc announced plans to shut down its music streaming service on November 28, marking the end of its efforts to compete with Spotify and Apple Music. Users have been instructed to transfer their playlists to other platforms by October 28, after which all customer data will be deleted.
ByteDance Ltd, TikTok's parent company, launched the service in 2019 under the name Resso, aiming to leverage TikTok's popularity among music fans. While TikTok has been credited for boosting hit songs and new artists, it has also faced challenges from record labels demanding higher payments for using music clips.
Despite TikTok's influence on the music industry, the experiment to turn its user base into a full-fledged music streaming service ultimately did not succeed.
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