SINGAPORE (Sept 5): Lu Hai, a trading representative at Maybank Kim Eng Securities, was fined $180,000 and suspended from trading for six months by Singapore Exchange’s (SGX) disciplinary committee for “stock manipulation”.

Lu managed to generate a profit of $129,745.61 by trading the shares of three counters: Informatics Education, IPCO International and Mirach Energy.

But SGX alleged that Lu placed buy and sell orders at various prices, modified them, allowed some of them to be filled and then deleted those that were not.

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