KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
National Security Justification
President Donald Trump is set to sign an executive order on Thursday aimed at advancing a deal to split TikTok into separate U.S. and international versions. The order will provide legal grounds that the arrangement satisfies U.S. national security requirements under a 2024 law mandating ByteDance to divest its U.S. operations or face an app-store ban.
Structure of the U.S. TikTok
According to White House officials, the U.S. version of TikTok will be held by a joint venture in which ByteDance will own less than 20%. Control will rest with a majority U.S.-owned board, ensuring American oversight. The U.S. entity will retain access to ByteDance’s recommendation algorithm, though specific terms remain unsettled.
Key Investors and Cloud Partner
The deal includes Oracle and private-equity firm Silverlake as U.S. investors, with Oracle continuing to provide cloud hosting services. A signed framework agreement between ByteDance and U.S. partners is expected soon, though it is unclear whether it will coincide with the executive order.
User Base Trends
TikTok remains a leading social media platform in the U.S., with 66 million daily active users in Q3, according to Sensor Tower. That places it fourth behind YouTube, Facebook, and Instagram. While growth surged between 2019 and 2023, daily user numbers have since plateaued.
Comments
Post a Comment