July 26, 2010 / 8:23 AM / 9 years ago

Japan to extend naked short selling ban to Oct

TOKYO, July 26 (Reuters) - Japan’s Financial Services Agency said on Monday it would extend ban on naked short selling until the end of October, citing continued uncertainty surrounding the stock market.

The ban has been in place since October 2008, when it was imposed in response to market turmoil amid the global financial crisis. It is the sixth extension of the measure, which was due to end this month.

Naked short selling involves selling securities without owning or borrowing the underlying assets in the hope of buying them back at a lower price.

Other extended temporary measures include a requirement for holders of a short position above a certain level to report to exchanges through securities firms. (Reporting by Taiga Uranaka)

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