Shares of Blumont execs hit by forced selling

[SINGAPORE] Shares of key executives of Blumont Group have come under forced selling as Singapore Exchange (SGX) maintains trading restrictions on the company's stock and those of two others for a fifth day today.

Meanwhile, SGX said it is investigating short-selling in two stocks that took place on Monday despite a market ban on such trades, while most Singapore brokers have given clients extra time to close out positions that were caught by the curbs, traders said.

Losses from the restrictions on those stocks are expected to be fairly muted and spread out among most of the brokers, although concern is higher that one or two houses could have significantly more exposure than the rest, observers said.