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.
Traditionally, fintech has been categorized under financial services, covering areas such as payments providers, stock exchanges, online brokers, and digital lending platforms. However, Brunner highlighted that fintech and traditional technology are increasingly overlapping, particularly in areas like payments and software. As fintech companies begin to resemble software firms in their financial profiles, it makes sense to consolidate the two groups.
The change aligns with Brunner’s recent appointment to lead the technology, media, and telecom banking division, following his role as co-head of global M&A. This shift underscores the evolving nature of fintech and its closer integration with the broader tech industry.
source: Bloomberg
Comments
Post a Comment