KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
With TikTok's U.S. ban set to take effect in January 2025, questions are swirling about whether President-elect Donald Trump could intervene to prevent the popular app from being blocked.
Trump's Mixed Signals on TikTok
At a recent press conference, Trump hinted at a soft spot for TikTok, acknowledging its influence among young voters:
“I have a warm spot in my heart for TikTok because I won youth by 34 points,” he said.
While this statement is politically exaggerated—Trump did not win the youth vote—it underscores TikTok's role in engaging younger audiences.
The Legal Reality
- Ban Timeline: The TikTok ban, requiring its U.S. operations to be sold, officially takes effect one day before Trump assumes office.
- Trump's Leeway: Although the law is already signed and set, a new president has tools to slow or modify implementation. Trump could choose not to enforce the ban aggressively, giving TikTok room to negotiate or appeal.
Trump’s Cabinet and China Policy
Trump's cabinet picks—Mike Waltz (National Security Advisor) and Marco Rubio (Secretary of State)—both played key roles in advancing the legislation to ban TikTok, citing national security concerns over China’s potential access to U.S. data.
- This signals a hawkish stance on China in line with Trump's broader policy, which may complicate any decision to reverse course.
- However, Trump’s improvisational leadership style leaves room for uncertainty. He often makes decisions in the moment, weighing political optics and external pressures.
Political and Strategic Implications
- Appealing to Young Voters: Trump’s acknowledgment of TikTok’s influence suggests he understands its cultural and political significance among younger demographics.
- Hawkish China Agenda: While Trump is critical of China, he may still weigh the ban’s impact on public sentiment and U.S. businesses benefiting from TikTok's success.
The Bottom Line
While the TikTok ban is scheduled to take effect just before Trump assumes office, he has executive options to slow or soften enforcement. However, his hawkish stance on China, coupled with a cabinet that supported the ban, leaves the final decision uncertain. For now, Trump can let the law take effect and avoid immediate blame, but TikTok’s future under his administration remains open-ended.
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