Cash squeeze looms for Malaysia’s frenzied amateur stock traders

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Shares of glove makers have seen a meteoric rise in the wake of the Covid-19 pandemic.KUALA LUMPUR: Forced to stay home when Malaysia imposed the Covid-19 movement control order (MCO), Victor Yap sat in his living room, listening carefully to a March 27 speech by Prime Minister Muhyiddin Yassin. As Muhyiddin presented the details of the government’s stimulus package, one thing in particular caught the eye of the 35-year-old property valuer from Kuala Lumpur: a six-month moratorium on loan repayments. Realising that the relief measure was set to leave him with spare cash given his two mortgages, Yap decided he would put the funds into shares. “At first, I thought the extra cash would barely help me survive these tough times, but then I saw everyone jump into the stock market and make big money,” he said by phone. “I also jumped in and did well. It was better than just surviving.” …