PETALING JAYA: The Securities Commission Malaysia (SC) and Bursa Malaysia Bhd will extend the suspension of intraday short selling (IDSS) and intraday short selling by proprietary day traders (PDT short sale) to Aug 29.
The suspension of IDSS and PDT short sale is due to expire on Feb 28. It took effect on March 24, 2020 as part of the regulators’ proactive measures to mitigate potential risks arising from heightened volatility and global uncertainties.
In a joint statement, the SC and Bursa said the additional six-month suspension of IDSS and PDT short sale, which are used mainly as a day trading strategy, will enable Bursa to enhance the control measures for intraday short selling activities in order to promote market stability and strengthen the integrity of the capital market.
“With this extension of the suspension, temporary waivers related to PDT will also be extended to Aug 29. These extensions do not affect regulated short selling, which is currently in place following the lifting of its suspension on Jan 1,” it added.
Source: The Sun Daily
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