THE bull market for equities that lasted for almost 11 years came to an end due to the coronavirus (Covid-19) pandemic that hit global economies.The local equity market was already struggling to sustain gains as the global trade war exacerbated and the domestic political scene showed instability. When the uncertainties of Covid-19 hit the financial market, the sell-off on Bursa Malaysia stocks was intense.
Investors across all levels and especially institutional funds were mostly hurt by the fall in equity values, as they were heavily invested in the local stock market.