25 March, 2020
In just weeks, the number of COVID-19 cases has ticked up exponentially, breaching 300,000 globally. The outbreak has caused many countries around the world to be in lockdown, crippling economic activity across the globe. As uncertainty grips the stock market amid the coronavirus pandemic, investors race to sell-off their investments and liquidate their equity holdings.
On the home front, MIDF Amanah Investment Bank Bhd’s weekly fund flow report dated 23 March 2020 reported that investors took out RM1.79 billion net of local equities from Bursa Malaysia Berhad (“Bursa”) last week, compared to an outflow of RM1.91 billion the prior week. This bring the total net foreign outflow of RM7 billion to date this year.
In this legal alert, we take a look at the efforts taken by stock exchanges in ASEAN countries to stabilise market volatility in light of COVID-19.
The full article can be found from Zicolaw's site here.
For more information, please contact:
Gilbert Gan, Managing Partner, Zaid Ibrahim & Co (a member of ZICO Law)
gilbert.gan@zicolaw.com
