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SC, Bursa Malaysia step up monitoring to ensure stability in market amid Middle East developments

Publish date: Sun, 14 Apr 2024, 10:40 PM

KUALA LUMPUR: The Securities Commission (SC) and Bursa Malaysia have increased market monitoring and surveillance to ensure activities in the Malaysian capital market remain stable, fair and orderly following the latest developments in the Middle East conflict.

In a joint statement here Sunday (April 15), they also gave assurances that market fundamentals remain strong and

intermediaries are well capitalised.

"We also have a robust system in place to ensure continuous and effective clearing and settlement of trades. Additionally, we have the necessary controls in place to address potential sharp increase in volatility in the equity market.

"We will continue to assess the situation very closely to ensure the integrity of our capital market remains intact,” they said.

In a separate statement earlier, Prime Minister Datuk Seri Anwar Ibrahim said the government is closely monitoring the evolving global geopolitical developments and financial markets.

Additionally, the government would take appropriate actions to promote continued financial stability and orderly functioning of markets and the potential economic fallout.

"Malaysia strongly believes that it is in the best interest of the global community that all parties involved should work towards achieving a cessation of hostilities in the Middle East and avoid further escalation of aggression. For a lasting solution, the ongoing violence must come to an end.

"Regardless, Malaysia stands with the Palestinian people who continue to suffer in this terrible situation. It is time for all parties to exercise utmost restraint, and leading global stakeholders should demand a cessation of hostilities by all parties,” added Anwar, who is also the Finance Minister.

Foreign media on Sunday reported that the Iranian Revolutionary Guard Corps had launched a barrage of missiles and drones on Israel.

According to the Anwar, Iran's attack was in retaliation to the heinous Zionist Israeli regime’s attack on the Iranian consulate in Damascus, Syria, adding that Israel’s actions were a clear violation of international laws. - Bernama

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