Bursa warns of stock market manipulation with pump and dump schemes

MIDF Research says cumulative net foreign inflow into Bursa for 2016 fell to RM2.42bil

PETALING JAYA: Just when the market has picked up steam with trading in stocks hitting high volumes, Bursa Malaysia has detected “pump and dump” activities circulating through the social media.

In a circular to the heads of dealing and compliance of stockbroking companies, the stock exchange said it discovered certain groups of market participants using the social media and Internet trading to carry out manipulative activities, which included pump and dump schemes.