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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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MyEG's Blockchain Developer Zetrix Launches Digital ID Verification for Chinese Nationals

MyEG Services Bhd announced that its blockchain developer, Zetrix, has launched a digital ID verification service for Chinese nationals through its ZCert platform. This service aims to simplify "know your customer" (KYC) processes for entities outside of China that need to verify the authenticity of digital IDs presented by Chinese nationals.


Zetrix operates as the international super node for China’s national blockchain, Xinghuo BIF, allowing Chinese nationals to publish their digital IDs, which can then be accessed by verifying entities through ZCert. This launch marks an enhancement to the platform, building on previous services like the digitization of Chinese driving licenses.

TS Wong, MyEG's managing director and co-founder of Zetrix, emphasized the potential of the digital ID service to power a new wave of automated KYC processes through smart contracts, while ensuring user data privacy.

MyEG reported record high earnings in Q2 2024, with a net profit of RM165.42 million on revenue of RM242.28 million. Analysts believe that the Zetrix platform could eventually become a major income contributor, overtaking MyEG’s e-government services.

Shares of MyEG closed 1.12% lower at 88 sen, with a market capitalization of RM6.7 billion.

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