Thursday, 16 Apr 2020 05:56 PM MYT
“Foreign sell-off had been cushioned by active participation of local institutions and retail investors,” he told a media conference on the SC 2019 Annual Report here today. “Our Investment banks and brokers also remained strong to mitigate the volatility, particularly during the Movement Control Order period, They are even stronger today than 10 years ago, resulting from our prudential requirement and supervision on intermediaries,” he said.
The SC is now focusing on companies and intermediaries to enable them to sustain through this challenging period, and be able to seize the recovering opportunities when the time arrives, he said. “While there were relatively higher redemption in first half of March, as well as in the first week of the MCO. We have seen redemption activities moderated subsequently in the first week of April with the industry recording net sales position.
He said the SC regularly engaged with fund manager and closely monitored local and regional development, including contagion effects.