Abstract
COVID-19 is a highly contagious viral infection that has changed the world, with many
human lives being lost. This study aimed to analyse investors' sentiment and stock market
behaviour in Malaysia during the COVID-19 pandemic. Stock market performance was
measured through the FTSE BURSA 100 Index (T100) from January 29, 2020, until
March 31, 2021, by employing principal component analysis (PCA) to construct the
investors' Sentiment Index (SMI). The results indicated that the sudden outbreak of
COVID-19 and its rapid spread significantly impacted investors' psychology, which
disrupted investors' investment decisions. Furthermore, rapid increases in confirmed
COVID-19 cases and deaths increased the uncertainty and unpredictability of the country's
economic situation. As a result, the Malaysian financial market showed a steep downward
trend during the COVID-19 pandemic.
Publisher
Universiti Putra Malaysia
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