SARAWAK CONSOLIDATED INDUSTRIES BERHAD (SCIB) Limit Down -29.832% today!
I have a client that registered with IDSS enabled, told us that she shorted #SCIB today when the share price at 1.13.
What is IDSS?
IDSS stands for Intraday Short Selling.
IDSS allows investors to sell securities that they don’t own, and then buy the same later to square off. All sell positions must be closed off with buy positions within the same trading day.
Can IDSS be applied to all listed securities on Bursa Malaysia?
No. IDSS can only be applied to selected securities in the list determined by Bursa Malaysia. This list will be reviewed and updated every six months by Bursa Malaysia.
In short, if you IDSS short sell the share at higher price, then you buy back the share at lower price. You are making money/profit!
IDSS Sell at 1.10
IDSS Buy at 1.00
You will be earning 0.10 in this trade.
How to apply for IDSS?
1. Sign Up in M+ Global APP
2. Fill up Invitation Code: UBZQ
3. Choose Malaysia Market
4. I will contact you for the next steps.