SINGAPORE Oct 10 The Singapore Exchange Ltd
(SGX) said it is investigating the short-selling in
shares of Blumont Group and Asiasons Capital
on Monday despite the trading curbs imposed on the two stocks.
"There was short-selling in the two designated counters,
Asiasons Capital and Blumont Group, on Monday, contrary to the
trading directions given to the designated securities," Kelvin
Koh, head of SGX's market surveillance unit, said on Thursday.
"We will be investigating these cases and take the
appropriate disciplinary actions as necessary," he added.
Under Singapore rules, SGX may declare listed or quoted
securities as "designated securities" if it thinks there has
been manipulation of the security or excessive speculation.
SGX had said earlier that traders will be barred from
short-selling shares in the three companies - Blumont, Asiasons
and LionGold Corp - and those buying the shares had to
make cash payments when their orders are executed.
(Reporting by Saeed Azhar and Kevin Lim; Editing by Ryan Woo)