asic bans all short selling. ann late sunday

As of late Sunday ASIC has banned all short selling - naked and covered, effective from Monday morning.

As the commentary from Business Sepectator below suggests, this is huge.

http://www.businessspectator.com.au/bs.nsf/Article/ASIC-bans-all-short-selling-in-dramatic-move-to-pr-JPBAD?OpenDocument

http://www.businessspectator.com.au/bs.nsf/Article/Australia-blows-up-the-hedge-funds-JPCC6?OpenDocument&src=sph