Apr 29, 2011 (LBO) - Sri Lanka's Securities and Exchange Commission said it is cutting a period of trading restraints on volatile stocks to five days from an earlier ten.
"The SEC will continue to closely monitor market conduct, especially in relation to the price volatility in the market and will consider further relaxations if deemed fit," SEC said in a statement.
"However the SEC may re-impose any conditions that have been relaxed so far if the market conditions so warrant."
The so-called 'price band' restrains trades on stocks that show unusual price movements.
The price band was brought following concerns that many illiquid stocks in particular were extremely volatile.
source - www.lbo.lk
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