CMA will continue updating precautionary measures to maintain market stability

The Capital Market Authority (CMA) said in a statement on Wednesday that the health of investment community and those working in the financial sector is one of its top priorities.

The daily trading hours were reduced, as part of the Kingdom’s precautionary measures to control the coronavirus outbreak.

It is important to maintain the stock market operations to evaluate local economy amid the current exceptional conditions and enable market participants to continue exercising their daily transactions, the market regulator added.

This will help the capital market facilitate lending and stimulate investment for all participants, especially that online trading has accounted for almost 90% of total transactions even before the spread of COVID-19.

To this extent, the Saudi market regulator has adopted various precautionary measures, such as suspending personal attendance at general meetings, allowing e-voting through Tadawulaty system, and suspending investment account freezing.

The CMA will continue to monitor the capital market to take any additional procedures required to maintain the safety of the market and its participants, the statement concluded.