Bursa Malaysia Start Trading Today – 4 July 2008
Filed Under (Bursa Alert!, Bursa Malaysia) by Webmaster on 04-07-2008
Tagged Under : Bursa Malaysia, market down, resume trading
News Alert Date : 4 July 2008 (9.45am local)
Bursa Malaysia announced that they have rectified their hardware failure problem on Thursday at 4.00pm. However Bursa did not announce the resumption of trading as it was already almost 5pm.
Today, Friday 4 July 2008, Bursa resume trading and the market is currently (9.45am) DOWN!.
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Composite Index is down by 22.90points!
As I have explained in my earlier posting entitled Buy, Sell and Contra, all outstanding Purchase contracts are due for settlement on T+3 and selling-out (also called force-selling) is due on T+4. So what happen if your Purchase contract T+4 happened to be on Thursday or Friday (today)?
Bursa had issued a circular to all stockbrokers on the following:
1. If your Purchase contract is T+4 on Thursday (3 July 2008), you are allowed to either pay or sell-out on Friday (4 July 2008),
2. If you Purchase contract is T+4 on Friday (4 July 2008), you are allowed to either pay or sell-out on Friday (4 July 2008) AND on Monday (7 July 2008).
Basically, Bursa is allowing extra one day for settlement of your purchase contract.
