KUALA LUMPUR: Certain investors are believed to have engaged in an unusually massive short selling on Bursa Malaysia at the end of last week in anticipation of a heavy selldown in the market following the opposition’s move to file a no-confidence motion against the prime minister.
However, despite the initial heavy selling , the investors appeared to have been trapped in their short positions by the quick and relative recovery of the market and could not deliver the shares that they did not possess, market players said yesterday.
This resulted in an unusually large-scale buy-in exercise initiated by Bursa Malaysia Securities Bhd yesterday involving more than eight million shares of close to 60 companies.
When contacted by The Edge Financial Daily, Bursa Malaysia could not comment on the matter yet, but is expected to issue a statement today.
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