Research Article · Vol. 20, No. 2 (2021) · pp. 63-84
Peer reviewed — at least two external reviewers, single-anonymised. Editorial process
The Reaction of the Malaysian Stock Market to the COVID-19 Pandemic
- Waqas Mehmood — School of Economics, Finance and Banking, Universiti Utara Malaysia
- Rasidah Mohd-Rashid — School of Economics, Finance and Banking, Universiti Utara Malaysia
- Attia Aman-Ullah — School of Business Management, Universiti Utara Malaysia
- Owais Shafique — Department of Islamic and Conventional Banking, Institute of Business, Management and Administrative Sciences, The Islamia University of Bahawalpur
- Ahmad Hakimi Tajuddin — School of Accounting & Finance, Taylor, University
Published Dec 31, 2021 · https://doi.org/10.17477/jcea.2021.20.2.063
Abstract
The present study was conducted to understand the turmoil effects of COVID-19 pandemic on the Malaysian stock market during the different periods of the Movement Control Order (MCO). The present study was based on the secondary data extracted from the DataStream and Bloomberg from 2nd January 2020 to 29th May 2020 to evaluate the effects of COVID-19 pandemic on the Malaysian stock market. The findings suggested that during the different periods of the Movement Control Order (MCO) from the 1st January to 29th May 2020, the COVID-19 pandemic adversely affected the performance of KLCI index and all sectoral indices. The weakest performance indices were energy, property, and finance while the least affected indices were healthcare, technology, telecommunications, and media. This paper provides a review of the impacts of COVID-19 pandemic on the Malaysian stock market throughout the different periods of MCO.
Keywords:COVID-19Malaysian stock marketSectorial indices