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...
China’s major internet finance platforms are cautiously resuming their consumer lending businesses, signaling a potential shift in Beijing’s stance after years of regulatory clampdowns that began with the halted Ant Group IPO in 2020.
According to industry insiders, platforms such as Ant Group, Tencent’s WeBank, and Meituan view Beijing’s new consumer loan interest subsidies—introduced in August to spur domestic consumption—as a green light to expand cautiously. The move marks a turning point after regulators previously forced these fintech giants to restructure and comply with stricter capital and data-use requirements.
“The regulatory landscape has become more accommodative,” said one industry source. “The economy now needs large internet finance platforms.”
Regulatory Winds Shift
The fintech sector appears to be entering what UBS describes as a phase of “normalized regulatory oversight.” UBS projects lending via online platforms to grow 7.6% in 2025 to 5.4 trillion yuan (US$758 billion) and maintain a 7.4% annual growth rate through 2029. Profitability is also expected to rebound, with sector profits up nearly 10% this year to around 110 billion yuan.
This recovery follows a thaw in relations between Beijing and private enterprises — exemplified by Jack Ma’s reappearance at an entrepreneur meeting with President Xi Jinping earlier this year.
“If the overall economy is struggling, you need fintech,” said Zennon Kapron, director of GL Insights. “It helps people feel more comfortable spending when they can pay in instalments.”
Risks Remain
Despite the renewed optimism, consumer loan defaults are climbing. Non-performing loans surged 190% year-on-yearin the first quarter, with consumer loans making up 70% of that total, according to China’s Banking Credit Asset Registration and Transfer Center.
Analysts warn that while Beijing may tolerate modest growth in online lending to boost spending, authorities will likely tighten oversight again if financial risks mount.
“Regulators still don’t want any more risks,” said one executive at a leading fintech platform.
As households struggle with weak income growth and job insecurity, some borrowers are using online loans to refinance debts or speculate in financial markets — raising concerns of renewed financial instability.
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