Short selling ban extended
The Australian Securities and Investments Commission (ASIC) has extended the ban on covered short selling until November 18.
The regulator announced the extension and said it expected that once it had elapsed the ban would be lifted.
Commenting on the move, AISC chairman Tony D’Aloisio said market conditions since the ban had been imposed remained difficult.
“While the various government actions and packages introduced in Australia are positive developments, they are yet to work through the financial system,” he said.
“The financial markets are still fragile, so we feel the reopening of covered short sales should be done in stages and in a measured way over an extended period [with] regard to systemic issues, particularly for financial stocks,” D’Aloisio said.
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