KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
A group of fintech and cryptocurrency companies, including Robinhood, Kraken, and Galaxy Digital, has launched the Global Dollar Network , introducing a new US dollar-pegged stablecoin named USDG. Issued by Paxos from Singapore, USDG aims to broaden stablecoin usage worldwide and offer economic benefits to its partners. Key Points: Global Dollar Network : Formed to promote stablecoin adoption, this network’s goal is to make stablecoins widely accessible and beneficial. Participants, including Anchorage Digital, Bullish, and Nuvei, will help govern USDG through a committee structure. Competitive Market : USDG enters a market dominated by Tether and USD Coin, which together hold nearly 90% of the stablecoin market cap. Its backers hope to boost USDG by incentivizing global stablecoin use. Stablecoin Benefits : Stablecoins like USDG provide a steady value, typically backed by traditional currencies such as the USD or euro, making them a reliable bridge between crypto and fiat currencies. ...