SCA halves daily loss limit on markets and enables share buybacks to support investors – The National

SCA halves daily loss limit on markets and enables share buybacks to support investors – The National

SCA halves daily loss limit on markets and enables share buybacks to support investors. The UAE regulator's move follows similar measures taken by other market regulators. The loss thresholds triggering trading suspension were reduced to 5 per cent from 10 per cent, the market regulator said in a statement Thursday on state news agency Wam and Twitter.. All listed companies have also been instructed to hold their general assembly meetings remotely via a secure remote e-voting system, the SCA said.. The UAE regulator's move comes as the coronavirus pandemic wiped $20 trillion ($73.4tn) from markets worldwide, after disrupting supply chains, global trade and severely curtailing the airline and travel industries.. In March, Boursa Kuwait was one of the first in the region to reduce the loss limit for trading to 5 per cent after the Kuwait Premier Market hit a 10 per cent down-limit three times in a period of two weeks.. The coronavirus has infected more than 941,000 people globally and killed over 47,000 as of Thursday, according to Johns Hopkins University that tracks the outbreak.. The US rolled out an initial $2tn stimulus package, the largest in the country's history, to soften the impact of the