October 10, 2013 / 10:27 AM / 4 years ago

Singapore bourse probes short-selling in Blumont, Asiasons

SINGAPORE, Oct 10 (Reuters) - 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)

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