3 brokerages incur small losses in trading scandal
Risk controls implemented for designated stocks
[SINGAPORE] Major brokerages DBS Vickers Securities, OCBC Securities and Maybank Kim Eng said they suffered insignificant losses from a recent trading scandal because of risk controls that were in place.
Speculation has been rife on losses suffered by brokers following the rare intervention by the Singapore Exchange which on Oct 4 queried six companies and, before they could reply, suspended briefly trading in three of the designated stocks.
Roughly $8.4 billion of market value has been wiped out from the three designated stocks - Asiasons Capital, Blumont Group and LionGold Corp - in seven days from Oct 3 to Oct 10.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
BT subscribers can now share 5 premium articles a month with unlimited number of non-subscribers
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds
Vietnam holds first gold auction in 11 years to stabilise market
How Hudson Yards went from ghost town to office success story