KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
EU Concerns Over U.S. Embrace of Crypto Assets and Its Potential Impact on Europe's Financial Stability
Eurozone finance ministers expressed concerns that the U.S. government’s embrace of cryptocurrencies could pose risks to Europe's monetary sovereignty and financial stability . Their worries come after President Trump signed an executive order to create a strategic reserve of cryptocurrencies using tokens already owned by the U.S. government, signaling a shift in policy from the previous administration. Key Takeaways: Policy Shift in the U.S. : The U.S. administration’s new stance on cryptocurrencies , especially dollar-denominated stablecoins , has sparked concerns in Europe. Trump’s move to embrace cryptocurrencies as part of the U.S. financial system contrasts with past U.S. policies, raising alarms about the impact on European financial stability. Impact on Europe’s Monetary Sovereignty : Paschal Donohoe , Chairman of the Eurogroup, highlighted that such developments in the U.S. could directly affect ...