KUALA LUMPUR, April 4 (Bernama) -- Bursa Malaysia closed lower today, with the benchmark index falling by 0.97 per cent, as persistent selling across various sectors weighed on the market, which continued to feel the impact of sweeping US tariffs. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 14.77 points to 1,504.14 from Thursday’s close of 1,518.91. The benchmark index opened 9.90 points easier at 1,509.01 and fluctuated between 1,500.90 and 1,515.74 throughout the day. In the broader market, losers thumped gainers 777 to 185, while 366 counters were unchanged, 1,031 counters untraded and 19 others suspended. Turnover fell to 1.81 billion units valued at RM1.89 billion against Thursday’s 2.51 billion units valued at RM1.81 billion.
A new proposal involving Oracle and Blackstone to take over TikTok’s US operations is under review. With a potential ban on the line, political and regulatory uncertainty could reshape TikTok’s future and influence broader US-China tech dynamics.
The Situation
President Trump is set to review a proposal this Wednesday to force a divestment of TikTok’s US operations from its Chinese parent ByteDance Ltd. The plan reportedly involves a joint venture led by Oracle Corp. and Blackstone Inc., with Oracle offering to manage US data security.
A key point of contention: TikTok’s algorithm may remain under Chinese control, a potential loophole in the eyes of US lawmakers.
Why This Matters
Deadline Pressure: ByteDance must finalize a sale by April 5, or face a US ban. Trump has indicated he may extend the deadline, but no formal decision has been made.
Security Risk Debate: While Oracle would secure US data, critics say leaving the algorithm with China undermines national security concerns—the core reason behind the forced sale.
Regulatory Complexity: Even with Trump’s approval, the deal needs sign-off from ByteDance and Beijing, which may only agree if the algorithm stays in Chinese hands.
Market Implications
TikTok’s US Future Remains Uncertain: Investors and tech companies are watching for clarity, as any restrictions could alter platform valuation, user base growth, and advertiser confidence.
Oracle and Blackstone in Focus: A successful deal may enhance Oracle’s role in consumer tech infrastructure, while giving Blackstone exposure to one of the world’s largest social apps.
US-China Tech Tensions Persist: The case highlights ongoing regulatory risks for Chinese tech firms operating in the US and adds another layer to the decoupling narrative.
Key Takeaways
Trump to review TikTok sale plan this Wednesday, with Oracle and Blackstone as leading bidders.
Deal would separate US data but may still leave algorithm in Chinese control, raising compliance concerns.
April 5 deadline for ByteDance looms, but extensions remain possible.
Final deal requires approval from ByteDance and Chinese regulators—political risk remains high.
The case could set a precedent for future US tech oversight of foreign-owned platforms.
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