KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
TikTok may go dark in the U.S. if the Chinese government refuses to approve a sale deal, U.S. Commerce Secretary Howard Lutnick warned on Thursday. Speaking on CNBC, Lutnick made it clear: American ownership and control of TikTok’s algorithm is non-negotiable.
What’s the Issue?
170 million Americans use TikTok, but the app is owned by China-based ByteDance.
A 2024 U.S. law requires TikTok to sell its U.S. operations or shut down, originally by Jan 19, 2025.
President Trump has extended the deadline three times, with the current cutoff on Sept 17, 2025.
What Lutnick Said:
“China can keep a little piece, ByteDance can keep a little piece... But Americans will own and control the technology and the algorithm,” Lutnick said.“If China doesn’t approve the deal, TikTok will go dark in the U.S.”
Where the Deal Stands:
A sale deal was being negotiated earlier this year to spin off TikTok U.S. into a U.S.-controlled company.
Talks stalled after China pushed back in response to Trump’s steep tariffs on Chinese goods.
TikTok has not issued a statement in response to Lutnick’s comments.
Legal and Political Tensions:
Attorney General Pam Bondi has issued letters to Apple, Google, and other tech companies clarifying they won’t be penalized under the law for continuing to host TikTok.
Democratic lawmakers argue Trump may not have legal authority to keep extending the deadline and question whether the proposed deal meets legal standards.
Conclusion & Key Takeaways:
Sept 17 is now the make-or-break date for TikTok in the U.S.
The algorithm is the heart of the deal—the U.S. insists on full control
China’s approval is required—without it, TikTok will be banned in the U.S.
Legal debates continue, but the political urgency is real
TikTok’s U.S. future now depends on last-minute diplomacy or a dramatic shutdown
Bottom line: Without a green light from Beijing, TikTok could vanish from U.S. phones in less than two months.
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