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.
Draft Legislation Targets Digital Asset Platforms Australia unveiled draft legislation on Thursday that would impose penalties of up to 10% of annual turnover on digital asset platform operators that breach proposed licensing rules. The plan marks one of the most significant regulatory steps yet for the country’s fast-growing crypto industry. Licensing and Penalties Under the new framework, crypto exchanges and custody providers will be required to hold an Australian Financial Services License (AFSL) . Licensed firms that fail to act “honestly and fairly” , or that engage in misleading conduct or unfair contract terms , could face the greater of: A A$16.5 million (US$10.9 million) fine Three times the benefit obtained Or 10% of annual turnover Platforms handling less than A$5,000 per customer and facilitating under A$10 million annually would be exempt. Extending Consumer Protections Treasury said the dr...