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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: Savant who wrote (4870)8/9/2011 1:57:03 AM
From: Savant1 Recommendation  Read Replies (1) of 5034
 
South Korea's stock exchange may ban short-selling in an effort to calm market jitters, a senior Korea Exchange official told Reuters on Tuesday. The Kospi was down 4.6 percent in afternoon trade, off its lows on bargain hunting by local institutions. The benchmark index had declined as much as 10 percent earlier in the session.

"We have one card left to stabilise financial markets, which is banning short-selling," the official said by telephone, declining to be named because of the sensitivity of the matter.

"But taking that measure could add to market jitters, so we are still looking at market trends."

South Korea prohibits naked short-selling of stocks.

Trading on South Korea's Kosdaq market was temporarily halted for 20 minutes earlier on Tuesday, following steep falls the Korea Exchange, or KRX said; program trading on the Korea Composite Stock Price Index (KOSPI) [.KS11 1800.21 -69.24 (-3.7%)] was halted for five minutes from 0019 GMT to 0024 GMT.

In a bid to soothe the markets, the country's financial authorities asked institutional investors such as pension funds, brokerages and asset managers to make every effort to stabilise markets and calm investor sentiment, according to a top financial regulator.

"In the future, financial authorities will step up monitoring of unfair trade activity aimed at taking advantage of stock market falls or malignant rumours in relation to the stock markets," the Financial Supervisory Service said in a statement.
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