This article first appeared in The Edge Financial Daily on March 18, 2020

KUALA LUMPUR: Malaysia’s capital markets, including Bursa Malaysia, will operate as usual during the 14-day movement control order starting today until March 31,  says the Securities Commission Malaysia (SC) .

“All exchanges will continue operating in a fair and orderly manner, with all necessary regulatory oversight in place. The SC has already in place business continuity measures including backup sites, recovery facilities and alternative communication channels to identify, manage and mitigate potential and emerging risks,” said its chairman Datuk Syed Zaid Albar in a statement yesterday.

“This will allow investors to make informed and timely decisions and execute the same, without impediments,” he added.

In a separate statement, Bursa Malaysia Bhd said it has the necessary infrastructure, rules and processes to safeguard and maintain a fair and orderly marketplace.

“The continuous operation of markets is critical to support the principles of an efficient market mechanism with minimal or no intervention,” it said.

“To ensure consistency of market practice, the tick rule will now be extended to intraday short-selling and permitted short-selling activities of investment accounts and market makers. The tick rule will also apply for short-selling activities of proprietary day traders,” it added.

This follows Prime Minister Tan Sri Muhyiddin Yassin’s special announcement on Monday night on the movement control order to curb Covid-19.