KUALA LUMPUR, Dec 4 (Bernama) -- Bursa Malaysia rallied to close broadly higher on Wednesday amid strong buying interests mainly in utility and technology stocks, with the benchmark index gaining 0.44 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.13 points to 1,614.09 from Tuesday’s close of 1,606.96. The index opened marginally higher at 1,606.97 and moved between 1,606.53 and 1,616.03 throughout the day. Advancers thumped decliners 727 to 381 on the broader market, with 522 counters unchanged, 781 untraded and 10 suspended. Turnover advanced to 3.60 billion units valued at RM3.30 billion versus 3.32 billion units valued at RM3.30 billion on Tuesday.
Australia’s newly passed law barring under-16s from social media is among the toughest crackdowns worldwide, targeting platforms like TikTok and Meta's Instagram to protect children from harmful content. The ban, set to take effect in 12 months, introduces stringent internet restrictions, penalizing platforms up to A$50 million (US$32 million) for breaches.
Key Details:
- The law prohibits under-16s from creating social media accounts, with platforms responsible for enforcement.
- Age verification challenges arise as the government ruled out official documents like passports due to privacy concerns.
- Platforms including Snapchat, TikTok, and X have criticized the law as "unworkable", citing flawed age-verification mechanisms.
Impact on Big Tech:
- The ban threatens to disrupt social media’s business model, which relies on teen users for advertising.
- Companies argue they already provide age-appropriate tools and express concern over rushed legislation.
Global Implications:
Australia's move could inspire similar legislation in countries like France, Norway, and the UK, as concerns mount over the impact of social media on children’s mental health, academic performance, and safety.
Criticisms:
- Academics like Lisa Given warn the ban oversimplifies a complex issue, urging instead for measures like disabling harmful algorithms and improving digital literacy.
- Unicef argues the ban risks pushing children into unregulated online spaces and compromising their right to access information.
Broader Context:
- Social media’s role in tragedies, including youth suicides tied to cyberbullying or sextortion, underscores the urgency of intervention.
- Countries such as Florida, Arkansas, and Ohio have struggled to enforce similar restrictions due to legal challenges.
While Australia’s bold approach has sparked global interest, critics emphasize the need for evidence-based solutions that address content regulation rather than blanket bans. As digital landscapes evolve, governments worldwide are likely to follow this debate closely.
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