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.
Key Takeaway: Project Nexus aims to enable instant, seamless cross-border payments globally, with full implementation expected by 2027 . The Bank for International Settlements (BIS) , together with Bank Negara Malaysia (BNM) and central banks from Singapore, Thailand, the Philippines, and India , is advancing Project Nexus to streamline cross-border instant payment systems (IPS) . Highlights of Project Nexus: Unified Cross-Border Payments IPS networks , like Malaysia’s DuitNow , will connect seamlessly via a single unified network , enabling instant and secure fund transfers across borders using proxies like mobile numbers . Phase 3 Milestones Phase 3, concluding in 2024, delivered a comprehensive framework , including: Governance roadmap Revenue model Technical specifications for the Nexus system. Phase 4 Objectives The next phase involves live implementation , with immediate priorities to: Establish the Nexus Scheme Owner (NSO) in Singapore to manage the system. Develop the Nex...