Hong Kong says social media used in 20% of its stock manipulation cases

 Dear friends,

As previously shared, please be aware and exercise caution of the social media sites you visit as some of the sites could be involved in stock manipulation. Instead, one should not have a business relationship if the other party is not licensed to deal in financial matters. Please work with a licensed practitioner instead. If you need help, please kindly fill in your contact details on the right or connect via linkedin by clicking here.

Source below:https://www.channelnewsasia.com/news/business/hong-kong-stock-manipulation-scam-social-media-13141700

A view of Hong Kong's Exchange Square. (File photo: AFP/Anthony WALLACE)

HONG KONG: Hong Kong's financial markets watchdog said on Thursday (Sep 24) that about 20 per cent of the market manipulation schemes it is currently investigating are so-called "ramp and dump scams" conducted via social media.

The targets of such scams are local retail investors who account for roughly 10 per cent of Hong Kong-listed shares' trading value, according to exchange data, a relatively high proportion compared to other markets.

Many small cap stocks in Hong Kong are little traded and prone to wild price swings and sudden crashes. The Securities and Futures Commission (SFC) has, in recent years, tried to take a more active role in policing the market.

In the 12 months to end March, the SFC investigated 478 cases of market misconduct, mostly alleged market manipulation or insider dealing.

In a ramp and dump scheme, fraudsters typically purchase a significant portion of shares in a small company with low liquidity, driving up the price.

They then use social media platforms like Facebook, WhatsApp and WeChat to spread favourable, normally false news about the company, sometimes posing as investment experts, drawing more buyers in and allowing the fraudsters to offload their shares.

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Thank you for featuring me in Phillip Capital Linkedin

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Just to share with you, that I have been featured in Phillip Capital Linkedin post today. Hence I like to take this opportunity to thank my loyal clients who have supported me. The post from my company is strong validation and endorsement for my work. Once again, thank you. 

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SIA rights n MCB. What are my options

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For those of you who have SIA shares, pls kindly refer to SGX website and search for SIA.

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WHO characterizes COVID-19 as a pandemic

Dear friends,

The COVID-19 has triggered a flight for safety along with recent Oil rout due to Saudi Arabia initiating a price war. Hence, we observed an increase in volatility in all risk assets which would likely test the strongest bull of all investors. Since the price rout has began, what should we as investor do in such time?
If you wish to know more about what is my view and strategies available, please kindly drop me your contact details in the contact form bottom right so we can arrange a chat or meet up.

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PS:If you are my clients, you will receive a market update and review from me in due time.

11 March 2020: : WHO characterizes COVID-19 as a pandemic

Speaking at the COVID-19 media briefing, the WHO Director-General said:
"WHO has been assessing this outbreak around the clock and we are deeply concerned both by the alarming levels of spread and severity, and by the alarming levels of inaction.
We have therefore made the assessment that COVID-19 can be characterized as a pandemic.
Pandemic is not a word to use lightly or carelessly. It is a word that, if misused, can cause unreasonable fear, or unjustified acceptance that the fight is over, leading to unnecessary suffering and death.
Describing the situation as a pandemic does not change WHO’s assessment of the threat posed by this virus. It doesn’t change what WHO is doing, and it doesn’t change what countries should do.
We have never before seen a pandemic sparked by a coronavirus. This is the first pandemic caused by a coronavirus.
And we have never before seen a pandemic that can be controlled, at the same time."

Source: https://www.who.int/emergencies/diseases/novel-coronavirus-2019/events-as-they-happen