asx manipulation rife: report

Maybe this is why we have seen a reduction in post market price changes in the last few days
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ASX manipulation rife: report
Staff Reporter2 hours ago
MarketsASXFinancial Markets
Leading market researchers believe the Australian Securities Exchange has commonly been the subject of manipulation by fund managers at the end of the trading day, The Australian Financial Review reports.

Michael Aitken, chief executive of the ­government-backed Capital Markets Co-operative Research Centre, said significant moves in the last few minutes of the trading day may be a sign fund managers are influencing the market to boost their bonuses.

"They are getting money in all the time but instead of buying it every day they save it and buy it at the last minute to drive more demand," he told the AFR.

The Australian Securities and Investments Commission’s commissioner for markets, Cathie Armour, said the corporate regulator was clamping down on such activities with a new market surveillance system.