Thursday 12th February 2009
Dear Reader,
NEW ARTICLE
HKEx
invents square wheel
HKEx has reportedly approved a new rule which will make it the only market in
the world to have no price caps in regular trading but a limit on movements
during the closing auction, thereby locking in any manipulation that occurs just
before the auction. Many developed markets have adopted random auction
closing-times to deter manipulation, which HKEx did not even allow for in its
recent consultation. (12-Feb-2009)
RECENTLY ON WEBB-SITE.COM
Vote-rigging
plan for PCCW meeting
Webb-site.com has discovered compelling evidence of an attempt to rig the
shareholder vote in the proposed privatisation of PCCW Ltd, involving hundreds
of new holders of one board lot each, many of whose names match insurance agents
of Fortis Asia, a former fellow subsidiary of PCCW. (1-Feb-2009)
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David M Webb
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