KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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...