Savage selling wipes $8.6b off 3 counters
SGX curbs on short-selling, contra trading also dent other small counters
[SINGAPORE] Chaos and panic rippled through the market early
yesterday morning as suspended counters Asiasons Capital, Blumont Group
and LionGold Corp resumed trading, racking up large falls and spreading
the contagion to other small stocks.
The three stocks, which boasted a combined market value of more than
$9 billion before the Singapore Exchange (SGX) stepped in to query their
share prices and trading activity last week, had $8.6 billion of that
value wiped out in just two days.
Yesterday, investment firm Asiasons' stock dived 89 cents or 86 per cent to 15 cents, on a volume of 89 million shares.
Blumont, which invests in minerals and energy, opened at 40 cents ...
