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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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BIS and BNM Partner with Central Banks to Revolutionize Cross-Border Payments Through Project Nexus

Key Takeaway: Project Nexus aims to enable instant, seamless cross-border payments globally, with full implementation expected by 2027.

The Bank for International Settlements (BIS), together with Bank Negara Malaysia (BNM) and central banks from Singapore, Thailand, the Philippines, and India, is advancing Project Nexus to streamline cross-border instant payment systems (IPS).


Highlights of Project Nexus:

  1. Unified Cross-Border Payments

    • IPS networks, like Malaysia’s DuitNow, will connect seamlessly via a single unified network, enabling instant and secure fund transfers across borders using proxies like mobile numbers.

  2. Phase 3 Milestones

    • Phase 3, concluding in 2024, delivered a comprehensive framework, including:
      • Governance roadmap
      • Revenue model
      • Technical specifications for the Nexus system.

  3. Phase 4 Objectives

    • The next phase involves live implementation, with immediate priorities to:
      • Establish the Nexus Scheme Owner (NSO) in Singapore to manage the system.
      • Develop the Nexus technology solution.

  4. Timeline for Completion

    • Full operational rollout is anticipated by 2027, marking a significant step toward a globally integrated payment ecosystem.

Why It Matters:

This initiative by BIS and participating central banks will transform global cross-border payments, making them faster, safer, and more accessible. With seamless interoperability across IPS networks, individuals and businesses can look forward to instant fund transfers, revolutionizing international transactions and boosting economic connectivity.

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