TSE limits stock sales for brokers' arbitrage trading
TOKYO, March 15 |
TOKYO, March 15 (Reuters) - The Tokyo Stock Exchange on Tuesday banned brokers from selling stocks for their own arbitrage trading, as a rule kicked in to restrict activity in response to a tumble in share prices.
The TSE said the restriction would be lifted if the TOPIX index recovers above 776.96.
The index was trading at 748.11 , down more than 11 percent on the day as worries mounted over an escalating nuclear safety crisis following last Friday's devastating earthquake and tsunami in northeastern Japan. (Reporting by Hideyuki Sano; Editing by Edmund Klamann)
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