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.
President-elect Donald Trump is considering Paul Atkins, a former SEC commissioner and a prominent advocate for digital assets, to replace outgoing SEC Chair Gary Gensler, according to Bloomberg.
What’s Happening:
- Atkins, who served under the George W. Bush administration, is among the top contenders for the role.
- Known for his push for clear, balanced cryptocurrency regulations, Atkins could reshape the SEC’s stance toward cryptocurrencies and financial technology.
- Since leaving the SEC, he has led Patomak Global Partners, a consultancy advising major financial firms, and has advocated for streamlining regulatory processes to encourage innovation.
Other candidates reportedly in the running include:
- Mark Uyeda, current SEC Commissioner
- Heath Tarbert, former CFTC Chair
- Robert Stebbins, partner at Willkie Farr & Gallagher LLP
Trump’s Crypto-Friendly Stance:
Trump’s campaign promises to end the SEC’s "anti-crypto crusade" under Gensler suggest a significant shift in regulatory priorities. Gensler’s tenure, marked by aggressive crypto enforcement following scandals like FTX’s collapse, was criticized for creating uncertainty in the industry.
What’s Next:
The decision on the SEC chair appointment is expected in the coming days. Atkins’ potential leadership would signal a more innovation-friendly approach, aligning with Trump’s goals of fostering growth in digital assets while ensuring market integrity.
Comments
Post a Comment